European Stocks Drop as May Starts With Gloom and a Flash Crash
- Benchmark Stoxx 600 Europe index briefly fell by as much as 3%
- Concerns over economic slowdown, war in Ukraine weigh on risk
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European equities fell on Monday, as disappointing figures about economic activity in China and the U.S., as well as the prospect of sanctions targeting Russian oil weighed heavily on risk appetite in the first session of the month.
The Stoxx 600 Europe Index ended 1.5% lower, following a brief, sharp dive by as much as 3%. With the U.K. closed for a holiday and trading volume thin, Nordic equities led the abrupt downward moves.