European Markets Drop On Fed News
Muhammad Irfan Published June 17, 2021 | 01:05 PM
European stocks fell at the open on Thursday after the Federal Reserve brought forward its forecasts for hiking interest rates as it looks to prevent overheating in the US economy
London, (UrduPoint / Pakistan Point News - 17th Jun, 2021 ) :European stocks fell at the open on Thursday after the Federal Reserve brought forward its forecasts for hiking interest rates as it looks to prevent overheating in the US economy.
In initial deals, London's benchmark FTSE 100 index dipped 0.5 percent to 7,150.86 points.
In the eurozone, Frankfurt's DAX 30 index fell 0.
2 percent to 15,682.56 points and the Paris CAC 40 shed almost 0.3 percent to 6,636.13.
"The Fed threw ... a bit of a curveball," said CMC Markets analyst Michael Hewson.
"The timeline for a possible rise in interest rates was brought forward with the consensus for a possible two hikes by the end of 2023, much sooner than the previous 2024, although the underlying tone remained cautious."
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 4 May 2024
Today Gold Rate in Pakistan 04 May 2024
Pakistan marks World Press Freedom Day
High-level Saudi business delegation due on May 5
Stocks heat up as US labour market cools
President approves Tax Laws (Amendment) Bill 2024
Implementation of merit, justice to oppressed segments top priorities: CPO
Overseas Kashmir community delegation calls on AJK President, discusses latest s ..
Govt believes in freedom of press: Amir Muqam
Labour urges UK election after Tory losses
Health authorities asked for action against alleged illegal tenders at Services ..
Spain scraps national bullfighting prize sparking debate
More Stories From Business
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 4 May 2024
2 hours ago -
Today Gold Rate in Pakistan 04 May 2024
3 hours ago -
CCP approves scheme of arrangement for restructuring of PIACL
12 hours ago -
High-level Saudi business delegation due on May 5
13 hours ago -
Stocks heat up as US labour market cools
13 hours ago -
Planning minister stresses need for establishing digital corridor
14 hours ago
-
Burj Solar install Pakistan´s first distributed generation Wind Power project
14 hours ago -
TEVTA’s BoD decides capacity building, adoption of frugality
14 hours ago -
US hiring slows more than expected in sign of cooler market
14 hours ago -
Stocks heat up as US labour market cools
16 hours ago -
Stocks heat up as US labour market cools
16 hours ago -
US hiring slows more than expected in sign of cooler market
16 hours ago