Live Markets: STOXX at 2-week lows, volatility picks up

Evonik Industries AG

04/11/2025 10:21

Adds blog

STOXX 600 down 1.6%

All sectors in the red

Telefonica cuts dividend

US tech stocks fall

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STOXX AT 2-WEEK LOWS, VOLATILITY PICKS UP

A risk-off tone gripped markets on Tuesday, dragging the STOXX 600 .STOXX down 1.6% to its lowest level in over two weeks and setting the pan-European index for its steepest one-day drop since early August.

Spurred by a sell-off in high-flying U.S. tech stocks, declines in Europe spread across all sectors, ranging from a 3% drop in Basic Resources .SXPP to a 0.3% fall in Real Estate .SX86P. Over 90% of STOXX constituents declined.

Meanwhile, a gauge of euro zone volatility .V2TX jumped above 20 points for the first time since mid-October, when a sell-off in U.S. regional banks stoked concerns about credit conditions.

Shares in Telefonica TEF.MC tumbled 10% after the telecoms operator cut its dividend to help reduce debt.

London's FTSE 100 .FTSE fell 1.3%, little supported by a drop in the pound that followed a rare pre-budget speech by UK finance minister Rachel Reeves.

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

BEFORE THE BELL: BIG TECH DOWN, EUROPE AND WALL ST TOO CLICK HERE

STOCKS SLIDE FROM RECORD HIGHS AS CAUTION REIGNS CLICK HERE

The road to $5 trillion https://reut.rs/3Lb2RXf

eu open https://tmsnrt.rs/4qH5UGT