ROME: European stocks sold off Thursday, with uncertainty around the U.K. general election adding to an already thick mix of worries surrounding rebounds in the euro, oil prices and bond yields.
The Stoxx Europe 600 SXXP, -1.27% fell 1.3% to 383.71, with no sectors trading higher. The pan-European index ended a choppy session Wednesday by losing 0.6%, in part after U.S. Federal Reserve Chairwoman Janet Yellen warned of risks from “quite high” stock prices.
European stocks have been knocked down from record and all-time highs in recent sessions, with much of this year’s gains fueled by funding generated from the European Central Bank’s €1.1 trillion bond-buying program, aimed at boosting the inflation level in the eurozone.
On the country indexes, France’s CAC 40 PX1, -1.33% fell 1.4% to 4,912.53, and Germany’s DAX DAX, -0.86% fell 0.7% to 11,268.13.
The FTSE 100 UKX, -1.50% sank 1.2% to 6,849.75 as British voters head to the polls for the U.K. general election. Opinion polls indicate there will be a hung parliament, where no party has a majority, leaving investors uncertain as to the future economic direction for the country.
Greece’s Athex Composite GD, +2.11% outperformed, however, rising 2.8% to 839.53. On Thursday, the ECB increased the amount of money Greek banks can borrow under an emergency lending program, according to a Greek bank official.
