European stocks opened slightly lower Monday morning, amid waning expectations of an aggressive interest rate cut by the Federal Reserve.
The pan-European Stoxx 600 was down around 0.1% shortly after the opening bell, with most sectors and major bourses in negative territory.
Market focus is largely attuned to the U.S. central bank, after a report from the Wall Street Journal suggested the Fed was likely to cut rates by a quarter-point at the July 30-31 Federal Open Market Committee meeting.
Late last week, dovish comments by New York Fed President John Williams had boosted expectations the central bank could cut rates by 50 basis points. However, the New York Fed sought to clarify Williams’ comments by saying his speech was not about policy action at the upcoming central bank meeting.
Source : CNBC