European stocks plunge, dragging down US stocks; S&P 500 falls 0.22%

智通财经2026/10/08 07:36

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Deutsche Bank strategists stated: “A widening bond spread and renewed inflation concerns led to a tough day for risk assets.” The impact was especially apparent in European markets, with the STOXX 600 Index falling by 1.00%, ending a three-day winning streak. France’s CAC 40 Index dropped 1.22%, Italy’s FTSE MIB Index lost 2.51%, and European banking stocks declined by 3.38%, making them the worst-performing sector. “This weakness also extended to the US market, where the S&P 500 Index fell 0.22%, pulling back from the record high reached the previous day. Although the index pared some losses throughout the session, internal pressures remained apparent, with nearly three-quarters of its constituents declining. Industrials and materials retreated by 2.14% and 1.53% respectively, with cyclical sectors especially weak. Technology stocks demonstrated some resilience, limiting the declines in the Nasdaq Index and the ‘Magnificent Seven’ to 0.22% and 0.20% respectively. However, the small-cap Russell 2000 Index dropped by 1.31%, hitting a four-month low.”

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Deutsche Bank strategists stated: "Widening bond spreads and renewed inflation concerns have made it a tough day for risk assets." The effect was especially pronounced in European markets, with the STOXX 600 index falling 1.00%, ending a three-day winning streak; France's CAC 40 index dropped 1.22%, Italy's FTSE MIB index plunged 2.51%, led by European bank stocks which fell 3.38% — making them the worst-performing sector. "This weakness also spilled into the US market, with the S&P 500 index dropping 0.22% and pulling back from its record high set the previous day. Although the index's decline narrowed as trading progressed, internal market pressure remained evident: nearly three-quarters of its components declined, industrials and materials fell 2.14% and 1.53% respectively, and cyclical sectors were particularly weak. Technology stocks proved more resilient, limiting the losses of the Nasdaq index and the 'Magnificent Seven' tech giants, which fell just 0.22% and 0.20% respectively. However, small caps were hit harder, as the Russell 2000 index dropped 1.31% to a four-month low."

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