Europe: Stocks sink at open on Fed remarks
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EUROPE'S stock markets opened sharply lower on Friday (Apr 22) on hawkish comments from the Federal Reserve about its monetary tightening plans.
London's FTSE 100 index shed 0.6 per cent to 7,582.51 points, hit also by data showing a 1.4-per cent drop in UK retail sales in March.
In the eurozone, Frankfurt's DAX index lost 1.1 per cent to 14,345.01 points and the Paris CAC 40 slid 1.5 per cent to 6,617.54, compared with the closing levels on Thursday.
Asia also tumbled Friday in the wake of heavy falls on Wall Street.
Fed Chairman Jerome Powell exacerbated worries over higher interest rates in key remarks on Thursday.
Powell, who has signalled that the Fed will have to move more aggressively to counter decades-high US inflation, stated that a half-point interest rate increase was "on the table" for next month's meeting. AFP
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