Oil Tops $114 as European Shares Fall and Kering Tumbles
7 Articles
7 Articles
The oil continues to rise high, reaching the highest level in the last five months, now exceeding the $114 per barrel threshold. According to Financial Times, three dangers are beginning to overlap in financial markets: the first is the cost of oil, the second is related to fears that huge investments in artificial intelligence will not generate the expected profits, and the third concerns France's debts.
The increase in the price of energy fuels the fear of new inflationary pressure and economic slowdown, while the leading European stock indexes fell.
The recent rise in oil prices threatens to deal further damage to the global economy, just as concerns are growing about the sustainability of the artificial intelligence (AI) boom, as well as the massive sell-off of French government bonds.
The investors got rid of French assets and sought refuge in the German Bunds and US Treasury bonds.
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