European Markets Face Downturn as German Bond Yield Hits 2.922%

European markets experienced a downturn on Monday, with the index falling by 1.0%, as outlined by Craig Erlam of OANDA. This decline was tied to the German 10-year government bond yield reaching 2.922%.

The struggles within the Euro zone’s manufacturing sector became evident as the Purchasing Managers’ Index (PMI) for September registered at 43.4, reflecting a contraction in the sector.

In individual stock movements, Edenred (EPA:) experienced a significant drop, plunging by 11%. On the other hand, BAE Systems (LON:) saw an increase, with its stock rising by 1.1%. These notable shifts in stock values further underscore the current volatility in the European markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.