India, Oct. 1 -- Major European markets dropped to multi-month lows on Thursday as elevated bond yields and surging oil prices hurt sentiment, prompting investors to lighten commitments ahead of the weekend.
Despite softer-than-expected US PCE inflation data easing concerns about Fed rate hikes, investors appeared quite reluctant to pick up stocks. Weak UK housing prices data and French manufacturing report hurt.
With no progress seen in resolving the Middle East issue, oil prices rose sharply with front-month Brent crude futures surging to $100.79 a barrel, up by about 2.8% over previous close.
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