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European Stocks Benchmark Sinks Into Bear Market on Growth Woes

Index is the last major European gauge to slump 20% from high
Fears of hawkish central banks have hammered risk appetite

By

Sagarika Jaisinghani and

Macarena Munoz Montijano

September 23, 2022, 9:03 AM UTCUpdated onSeptember 23, 2022, 3:47 PM UTC

Europe’s Stoxx 600 Index joined US and regional peers in a bear market as fears of a looming recession hammered demand for risk assets.

The index sank 2.3% by the close in London, to the lowest level since December 2020. Total declines from a January record high are now 21%, confirming a technical bear market.