ticker

European markets declined 1% and extended weekly loss to over 3% and dropped to one-month on the worries of economic slowdown.

Oil futures declined 2% and extended three-week slide as recession worries dominated market sentiment. Brent crude in London fell to $79 and WTI crude in New York dropped to $74 a barrel.

The Central Bank of Russia held its key lending rate at 7.5% and cited elevated inflationary pressure. The central bank also lowered its 2022 inflation estimate to 12.0% from 12.6%.

The Consumer Price Index in the Euro Area in November was revised slightly higher to 10.1% from the previous estimate of 10.0%, lower than the record 10.6% in June, Eurostat said Friday.