European Stocks Sink to July Lows on China, Interest Rate Woes

📆 27/09/2023 6:16 AM
📰 BNNBloomberg

⏱ Reading Time:
13 sec. here
2 min. at publisher
📊 Quality Score:
News: 8%
Publisher: 50%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

European stocks extended their decline to the lowest level since July, dragged lower by renewed worries over China’s property sector and concerns around a higher-for-longer narrative from central banks.

The Stoxx 600 Index fell 0.6% at the close in London, with technology and real estate sectors among the biggest laggards. Semiconductor-equipment maker ASM International NV fell after giving earnings guidance that underwhelmed investors. Luxury stocks including Richemont and LVMH dropped after Morgan Stanley cut earnings estimates for the industry, citing weakness in China.

Stocks extended losses further on Tuesday afternoon as Minneapolis Fed President Neel Kashkari said he sees 40% probability that the US central bank needs to push rates higher, which is more than what is priced by markets at the moment.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China, rate woes send European stocks to one-month lowsMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Higher yields weigh on European shares, luxury stocks enter bear market territoryBy Bansari Mayur Kamdar and Sruthi Shankar (Reuters) -European shares fell for a fourth day on Tuesday, with rate-sensitive technology and real estate ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

Toronto stocks slip at open as commodity stocks weighMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »