Eurozone stocks sag on strong euro while Wall Street tumbles

  • 📰 malaymail
  • ⏱ Reading Time:
  • 46 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 86%

Europe Economy News

Eurozone

NEW YORK, May 1 — Eurozone equities sagged yesterday, weighed down by the strong euro as investors digested bright economic news, while Wall Street stocks slumped on...

Pundits: Ramasamy’s anti-Pakatan campaign will chip away at KKB majority, but not enough for a Perikatan upset on May 11

London meanwhile zoomed to yet another record peak at 8,199.95 points, with HSBC soaring more than four per cent on a bumper stock buyback despite sliding first-quarter profits and the exit of its chief executive.Eurozone gross domestic product grew by a stronger-than-expected 0.3 per cent in the first three months of 2024 compared to the prior quarter, having slid into a shallow recession in the second half of last year, official data showed. Annual inflation held at 2.

Stronger growth and sticky inflation could mean the ECB keeps rates high for longer, which is lifting the euro, she said. US consumers, the motor of the world’s largest economy, appear less optimistic about the jobs market and more worried about future financial conditions.These moves come before the Fed’s rate decision, with traders lowering their expectations since early 2024 for how many rate cuts the bank will make.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

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

Wall Street ends sharply lower on mixed earnings, sticky inflation, geopolitical fearsNEW YORK, April 13 ― US stocks sold off yesterday after major US banks' results failed to impress, capping a week marked by market-moving inflation data, evolving...
Source: malaymail - 🏆 1. / 86 Read more »