Geopolitical tensions and weak US tech shares offset modest gains in UK and Spanish markets ahead of key earnings and Fed events.
European equities closed mixed on Monday, with the FTSE 100 up 0.35% and Spain’s Ibex gaining 0.69%, while France’s CAC 40 and Italy’s FTSE MIB slipped. The broader market remained subdued amid ongoing geopolitical concerns, particularly around Iran, and a lack of significant economic data.
The German DAX edged down 0.07%, while US markets opened lower, led by a 0.73% decline in the Nasdaq 100. Nvidia’s 2.05% drop weighed on sentiment ahead of its earnings report on Wednesday, with shares down 6.67% from their August 13 peak.
The Dow bucked the trend, rising 0.29%, while the S&P 500 and Russell 2000 posted modest losses. Treasury yields also retreated, reflecting cautious positioning before Fed Chair Jerome Powell’s Jackson Hole speech later this week.