Brent Soars over $80 a barrel

The gain in Brent crude futures above $80 a barrel, continued to bolster energy companies, with the oil and gas index rising 1.1% to fresh highs, not seen since February 2020.

On the other hand, the rise in government bond yields dragged on high-growth technology stocks on Tuesday, as new signals of a weakening Chinese economy, reversely impacted investor morale.

The European Stoxx 600 index declined 0.4 percent, marking the third consecutive session of losses, according to “Reuters.”

The rise in US Treasury yields indicates that investors are bracing for more liquidity and the prospect of persisting inflation.

The profit growth of Chinese industrial enterprises declined for the sixth month, in a row, last August, as an electrical crisis posed an increasing threat to production and profitability.

Higher interest rates boosted bank stocks, but technology stocks were the biggest losers, falling about 2% after their Wall Street rivals plummeted overnight.