European markets began the week in negative territory, with the pan-European Stoxx 600 index declining 0.4% shortly after the opening bell.
All sectors and major indices were in the red, as trading activity is expected to remain subdued ahead of the New Year holiday.
Industrials, media, and technology stocks led the losses across the region.
In the UK, stocks traded lower as investors adopted a cautious stance before year-end.
The FTSE 100 dropped 26 points, or 0.26%, to 8,128.36 after closing up 0.2% on Friday.
Shares of Rolls-Royce Holdings fell over 1% to lead the losers in early trading. The slump in stock is potentially linked to the Korean air crash yesterday, which may raise concerns for Boeing and its supply chain partners.
German markets also moved lower on Monday, pressured by rising government bond yields, which prompted investors to book profits.
The benchmark DAX index fell 75 points, or 0.4%, to 19,909, retreating from Friday’s 0.7% gain.
The 10-year German bund yield reached its highest level since mid-November, following a similar rise in US Treasury yields.
Technology stocks were among the hardest hit, with Infineon Technologies losing nearly 1%.
French stocks declined amid concerns over the country’s economic outlook.
The CAC 40 dropped 22 points, or 0.3%, to 7,334 shortly after market open.
The index however recovered a bit, and was trading flat at the time of writing.
Investors remain wary of the French government’s delayed 2025 budget bill, which aims to target a deficit slightly above 5% to protect growth.
China-exposed luxury brands like LVMH, Hermes International, and Kering fell around 0.5% ahead of Chinese manufacturing PMI data expected on Tuesday.
Asian markets end lower on Monday
Asian markets ended mixed on Monday as investors adopted a cautious stance ahead of year-end.
The Shanghai Composite rose 0.21% to 3,407.33 ahead of Tuesday’s manufacturing PMI data.
In Hong Kong, the Hang Seng Index slipped 0.24% to 20,041.42, with Baidu falling 1.4%.
The Nikkei declined 0.96% to 39,894.54 after three days of gains, dragged down by technology and heavyweight stocks.
The Topix Index fell 0.60% to 2,784.92.
Notable decliners included SoftBank Group (-0.8%) and Fast Retailing (-1.6%).
The Kospi dropped 0.22% to 2,399.49 amid political and aviation concerns.
An arrest warrant was sought for suspended President Yoon Suk Yeol over his martial law declaration, and November factory output fell more than expected.
Jeju Air plunged 8.7% following a crash that killed 179 people, prompting the transport ministry to review inspections for Boeing B737-800 aircraft.
Markets reversed a three-session winning streak, with financial, property, and tech stocks leading declines.
The S&P/ASX 200 fell 0.32% to 8,235, and the All Ordinaries Index was down 0.28% at 8,496.
US stock futures dip on Monday
Stock futures edged lower early Monday as the final trading sessions of 2024 approached.
Dow Jones Industrial Average futures slipped 81 points, or 0.19%, while S&P 500 futures declined 0.16%.
Tech-focused Nasdaq-100 futures also slipped 0.26%.
The major indexes are poised to end the year just below record highs, with the S&P 500 and Dow up over 25% and 14%, respectively, marking their best year since 2021. The Nasdaq has surged more than 31%.
All three benchmarks are also set for a winning fourth quarter.
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