European markets started the month of May on a down note, with investors continuing to worry
about monetary policy, rising inflation, and the ongoing war in Ukraine.
The German DAX index was down 0.7%, while the French CAC was down 1.4%. England’s
FTSE 100 index is closed for a public holiday.
Germany’s latest retail sales data showed an unexpected fall in March. The Federal Statistics
Office said sales were down 0.1% for the month.
Meanwhile, global investors continue to monitor the war in Ukraine and its geopolitical
implications. European leaders are set to work on a Russian oil embargo this week.
On Wall Street, U.S. stock futures are marginally higher after the Nasdaq Composite Index
posted its worst month in April since the 2008 financial crisis, pressured by rising rates, rampant
inflation, and underwhelming earnings from some technology companies.
Shares in Asia-Pacific also slipped across the board today (May 2), with data released over the
weekend showing Chinese factory activity contracted in April amid renewed COVID-19
lockdowns.
