World shares mostly lower as recession fears deepen amid oil price hike
Shares dropped in Europe and Asia on Monday while oil prices surged more than $3 a barrel amid dire warnings over energy shortages in Europe if Russia cuts off gas supplies.
Germany’s DAX fell 1% to 11,998.26 while the CAC 40 in Paris shed 1.2% to 5,690.88. Britain’s FTSE 100 lost 0.8% to 3,305.79.
On Wall Street, the future for the S&P 500 was up 0.2% while the contract for the Dow industrials gained 0.4%.
In its quarterly gas report, the Paris-based International Energy Agency said people will have to save at least 13% over the winter if Russia cuts off the last trickle of gas that’s flowing to Europe.
