index opened 0.09% lower, with travel stocks leading losses. France's CAC 40 index dropped 0.36% as investors assessed credit rating agency Moody's surprise Saturday decision to downgrade the country's score to Aa3, from Aa2 previously. The agency said French public finances would be weakened in the coming years by ongoing political instability.are listing in Europe.
Beyond that, the U.S. Federal Reserve's monetary policy meeting on Dec. 18 stateside is front and center for global markets this week, with the CME Fedwatch tool forecasting a 96% chance of a 25-basis-point cut by the central bank. Traders will be paying close attention to the updated policy statement and Fed Chair Jerome Powell's press conference for clues about the trajectory for interest rates.The Bank of England meets on Dec.
"An overlay of a turbulent geo-political landscape and talk of potential tariffs adds to future uncertainty in the short to medium term," said Richard Austin, head of manufacturing at BDO.The Federal Reserve is widely expected to cut rates by 0.25 percentage points on Wednesday, but traders will be paying close attention to the updated policy statement and Fed Chair Jerome Powell's press conference for clues about what comes next.
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