Due to concerns over a recession in the US economy and unfavorable seasonal factors, European stock markets were sluggish on Monday after sliding from last month's historical highs, maintaining a narrow range of fluctuations.

Investors are looking for the next catalyst following the Federal Reserve's interest rate cut last week.

The yield on German 10-year government bonds surpassed that of 2-year German bonds for the first time since November 2022.

After the release of weaker-than-expected Eurozone PMI data, the money market increased its bets on the European Central Bank's interest rate cut.

The German 2s10s yield curve rose by 3 basis points, trading above zero as traders bet on a 42 basis point rate cut by the European Central Bank before the end of the year, up from 38 basis points last week.

The British pound/dollar fell by more than 0.50% during the day, currently at 1.3255.

On Monday, September 23, before the US stock market opened, the Nasdaq 100 futures rose by 0.13%, the S&P 500 futures rose by 0.05%, and the Dow futures fell by 0.02%.

Intel rose nearly 4%, with reports that private equity firm Apollo proposed to invest up to $5 billion in Intel.

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US chip stocks were mixed before the market opened.

NIO fell by more than 3% before the US market opened, denying rumors of acquiring Audi's Brussels factory.

European stocks were mixed.

As of press time, the Stoxx Europe 50 index fell by 0.15%, the German DAX index rose by 0.08%, the UK FTSE 100 index rose by 0.06%, and the French CAC 40 index fell by 0.41%.

The Stoxx Europe 600 index remained almost unchanged, with the benchmark about 2% lower than its historical high in August.

The telecommunications and food and beverage sectors performed well, while consumer goods stocks performed the worst.

The shares of Commerzbank plummeted as Germany indicated it would not sell more shares of the bank.

After the release of French PMI data, the euro fell rapidly, currently with the euro/dollar down by 0.36% at 1.1123.

The yield on German 2-year government bonds fell by 5 basis points to 2.18%.

Spot gold hit a new high of $2,631.38 per ounce during the day and has since retreated to $2,615.43 per ounce.

Spot silver fell by more than 2% during the day, currently at $30.47 per ounce.

Oil prices rose slightly, with Brent crude and WTI crude both reporting prices of $73.75 per barrel and $71.04 per barrel, respectively.