Global equities slid on Thursday on vehicle sector woes and economic fears about the prospect of more interest rates aimed at cooling high inflation. Share prices of carmakers were hit hard after Tesla posted tumbling first-quarter profits as steep price cuts ate into margins at Elon Musk's electric car company. European indices followed Asia into fresh losses after a tepid session on Wall Street, while oil prices fell further and the dollar declined. "European markets are in the red on Thursday in what continues to be a choppy week of trading driven by economic and interest rate uncertainty," said analyst Craig Erlam at trading firm Oanda. Stubbornly high UK inflation and worries over more central bank moves to tame rampant consumer prices dented markets on Wednesday. Higher borrowing costs curb consumer spending and ramp up the cost of credit for businesses and individuals alike, derailing economic activity. "Investors are once again worried about the outlook for the global economy," added Russ Mould, investment director at AJ Bell. "Markets have stalled over the past few days, with the latest corporate updates failing to move the dial." Carmakers hit the skids Shares in...
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