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European shares sink over fears Russia may invade Ukraine -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany on February 8, 2022. REUTERS/Staff

(Reuters) – European shares fell to their lowest levels in twenty days. Travel, banking, and auto stocks were the most affected by Monday’s slump. Investors worried about geopolitical risk following Russian warnings of an invasion of Ukraine.

Europe’s index dropped 2% at 0808 GMT. This was its lowest point since Jan. 25, 1995. All the major sub-sectors were in the red, with travel & leisure, banking and automakers falling the most with losses of over 3%.

Energy sector fell 0.5% as oil prices reached their highest level in seven years. [O/R]

After being warned by the United States, global investors moved away from risky assets to safer assets like gold and government bonds.

Clariant stock fell 16.5% due to Clariant’s delay in releasing its 2021 results because of an accounting investigation.

Commerzbank (DE) dropped 7.5% following Germany’s Finance Minister declaring that the government will not retain its long-term stake in the lender.

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