Major market indexes in Europe closed Wednesday's session in negative territory, prompted by discouraging economic updates across the Old Continent. The German Ifo Institute for Economic Research reported a deterioration in the business climate for May, while in the United Kingdom, April's annual inflation reached a higher-than-anticipated 8.7%. Traders also remain closely engaged in the ongoing debt ceiling talks in Washington, as progress seems slow.
The DAX plummeted 1.92% at the closing bell, and Euro Stoxx 50 slid 1.81%, as Infineon tumbled 5.82% on both indexes. The CAC 40 plunged 1.70%. The worst performer was STMicroelectronics, declining 5.38%. The FTSE 100 dropped 1.75% at the close, as Persimmon traded 5.52% lower.
The euro traded 0.09% below the dollar at 5:33 pm CET, selling for 1.07602, while the pound fell 0.35% against the greenback to go for 1.23704 simultaneously.
