The stock exchanges of France and Germany are declining

The stock indexes of France and Germany are falling strongly on the first trading day of May after the collapse of the markets in the United States last Friday. 

In particular, the French CAC 40 fell to 6,308.47 points, and the German DAX – to 13,778.13 points. The current index values are fixed at the levels of 6,447.47 and 14,008, respectively. The British Stock Exchange is closed today due to the bank holiday in the country. On Friday, the British FTSE 100 rose to 7,569.80 points. 

Recall that last Friday, the main US indices collapsed after the publication of a number of financial results of large companies. Amazon made a loss of $3.8 billion for the first time in seven years at the end of the last quarter. Because of this, the company's shares collapsed in price by 14%. Apple reported that at the end of the same quarter it could incur losses of $4 to $8 billion due to supply problems. As a result, the company's securities fell by 3.7%.

Due to such disappointing figures from the giants of the information technology sector, the European technology index is down by 2% on Monday, and the securities of companies such as SAP, Nokia and Logitech are cheaper by 1%, 2% and 1.9%, respectively.

In addition, the PMI business activity index in the field of industrial production in the eurozone in April, according to the final assessment, almost did not change compared to the initial estimate (55.3 points) – the indicator fell to 55.5 points from 56.5 points in March, being at a minimum for more than a year.