European Stocks Close to Erasing 2023 Gains as Earnings Weigh

-- European stocks dropped on Thursday, bringing the benchmark Stoxx 600 close to wiping out its 2023 gains, as glum company results in Europe and the US hit risk appetite before the European Central Bank’s rate decision.Apple Plans AirPods Overhaul With New Low- and High-End Models, USB-C HeadphonesThe Stoxx 600 was down 1% at 8:10 a.m. in London. The benchmark is now just 1.28% away from erasing its year-to-date advance.

European stocks are tracking their third straight month of declines as US bond yields surge on worries of higher-for-longer interest rates. All eyes are on the European Central Bank’s policy meeting later on Thursday, where market participants expect the central bank to keep rates on hold for the first time in more than a year.

Ruffer, a UK-based fund known for winning bets made in the volatility market, is now hoping for a big upswing in the Japanese yen.High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker.

A biotech firm founded by Vivek Ramaswamy turned $15 million into $5 billion by flipping a bowel-disease treatment that Pfizer gave it for free

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