U.S. equities closed the week lower after a sharp selloff, spurred by escalating geopolitical tensions in the Middle East. The Dow Jones dropped 1.32%, returning to negative territory for the year. While early-week optimism surfaced from favorable economic data and positive signs in U.S.-China trade negotiations, Friday's events overshadowed this progress. In Europe, economic growth cooled as the STOXX Europe 600 Index fell, led by a steep decline in Germany's DAX. Weak GDP indicators in the UK coupled with declining export figures further heightened concerns surrounding global trade and investment sentiment.
U.S. equities faced a notable decline, with the Dow falling 1.32% amid rising geopolitical tensions in the Middle East, reversing earlier market optimism.
Inflation data surprised markets as May's CPI rose just 0.1%, leading to improved consumer and business sentiments, countering geopolitical fears that emerged on Friday.
European markets struggled, led by Germany's DAX, with concerns over weak GDP, trade uncertainty, and rate speculation complicating the outlook for investors.
UK economic performance deteriorated, with a 0.3% GDP decline in April highlighting weakness in key sectors and prompting fears of a broader economic slowdown.
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