Higher yields weigh on European shares, luxury stocks enter bear market territory

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By Bansari Mayur Kamdar and Sruthi Shankar (Reuters) -European shares fell for a fourth day on Tuesday, with rate-sensitive technology and real estate ...

By Bansari Mayur Kamdar and Sruthi Shankar -European shares fell for a fourth day on Tuesday, with rate-sensitive technology and real estate stocks pressured by surging bond yields, whileSaltWire's Atlantic regional weather forecast for September 26, 2023 | SaltWire -European shares fell for a fourth day on Tuesday, with rate-sensitive technology and real estate stocks pressured by surging bond yields, while fears over a sputtering Chinese economy sent a gauge of luxury stocks into bear...

"If the U.S. 10-year yield moves to 4.75% we will most likely begin seeing widening cracks in equities as the prevailing narrative of falling inflation collapses," strategists at Saxo Bank said. European luxury giants LVMH and Richemont weakened 1.4% and 3.0% as investors remain concerned about a disappointing post-pandemic recovery in China and faltering sales in the United States.

Norwegian hydrogen company Nel tumbled 11.0% to the bottom of the STOXX 600 due to weak sentiment among hydrogen stocks.

 

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