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DAX Slips Amid Energy Supply Crunch
(RTTNews) - German stocks fell sharply on Monday as a supply squeeze fueled Europe's worst energy crunch in decades.
As Russia turns off Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany for annual maintenance, Germany has warned that Moscow could halt gas flows permanently.
Flows are expected to stop for 10 days, but it is feared that the shutdown might be extended due to war in Ukraine.
Worries about fresh COVID-19 curbs in China also stoked worries about global growth. As cases of COVID-19 continue to rise in nine provinces in China, experts blame food packaging as a risk factor.
The benchmark DAX dropped 112 points, or 0.9 percent, to 12,903 after climbing 1.3 percent on Friday.
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FTSE 100 Up Marginally As Investors Look For Direction
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European stocks were mostly lower on Monday as investors looked ahead to a Russia-U.S. summit this week that could help stop the war in Ukraine.
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Asian Shares Edge Up In Thin Holiday Trade
Asian stocks edged up in thin trade on Monday, with Japanese markets closed for a holiday.
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European stocks are seen opening a tad higher on Monday as investors brace for a busy week ahead.
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