Europe: Stocks slump at open on rate hike concerns
Add BT as a preferred source
EUROPEAN stocks slumped at the open on Thursday (Sep 22) following sharp losses in Asia and on Wall Street after the Federal Reserve signalled more hefty US interest rate hikes.
London’s benchmark FTSE 100 index shed 1.0 per cent to 7,166.81 points following the Fed outlook that came after the US central bank Wednesday unveiled a third-straight jumbo rate increase to tackle sky-high inflation.
The Bank of England was Thursday set to announce its own second bumper rate rise in a row.
In the eurozone, Frankfurt’s DAX index tumbled 1.9 per cent to 12,528.37 points at the start of trading and the Paris CAC 40 slid 1.7 per cent to 5,930.97. AFP
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Ex-Sakae director Ong Siew Kwee handed 10.5-year jail term for misappropriating S$15.8 million, lying in court
DBS sees choppy Q3 for STI as investors pivot from Singapore banks to listcos that’re unlocking value
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
High Court rejects bid to bring ST Engineering unit into trademark infringement suit over RSAF aircraft parts
