Doha: European stocks fell to their lowest level in a week on Monday amid heavy selling as global stocks came under pressure following US jobs data that reinforced expectations that the Federal Reserve (the US central bank) will be cautious in cutting interest rates this year. The Stoxx 600 index closed down 0.5 percent at 508.71 points.

According to Qatar News Agency, this decline came as a result of an unexpected acceleration in US job growth in December and a decline in the unemployment rate to 4.1 percent. Markets are awaiting monthly inflation data in the United States due to be released on Wednesday, which plays a pivotal role in determining whether the Federal Reserve will continue to cut interest rates.

Technology stocks fell 1.2 percent, while the real estate sector lost 1.3 percent and healthcare lost 1.2 percent. The market has been feeling uneasy lately due to concerns about rising inflation, the diminishing possibility of the Federal Reserve cutting interest rates, and discussions about the tariff policy that US President-elect Donald Trump will adopt.