European stocks resume slide on rising inflation worries

  • Reuters
  • Stock Market News
European stocks resume slide on rising inflation worries
Credit: © Reuters.

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May 13 (Reuters) - European stocks slid on Thursday, tracking a selloff on Wall Street, as a rapid rise in U.S. inflation spooked investors, while a drop in commodity prices weighed on heavyweight miners.

The pan-European STOXX 600 index .STOXX fell 1.0%, heading further away from all-time highs.

Basic resources and oil and gas sectors .SXPP .SXEP , among the recent top gainers on the back of a surge in commodity prices, fell over 2% as a strong dollar put a dent in metal and oil prices. MET/L

British luxury brand Burberry BRBY.L tumbled 8.8% on reporting a 10% drop in annual sales, weighed down by the COVID-19 pandemic. biggest broadband and mobile provider, BT Group BT.L , fell 5.4% as it reported a 7% fall in revenue and a 6% fall in adjusted earnings for the full year. in Denmark, Finland, Norway, Sweden and Switzerland were closed for public holiday.

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