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European stocks open lower after Fed dampens easing expectations


Thursday, 1 August 2019 14:10 WIB

EropaIndeks Stoxx Europe 600


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European stocks opened lower Thursday as traders process a more hawkish tone from the U.S. Federal Reserve and await the Bank of England’s Monetary Policy Committee (MPC) meeting.

The pan-European Stoxx 600 slipped 0.3% at the opening bell, basis resources stocks plunging 1.9% while financial services edged 0.3% higher as most sectors and major bourses entered negative territory.

Markets are reacting to the Fed’s first cut to its main interest rate since 2008, after Chairman Jerome Powell cited signs of a global slowdown, simmering U.S. trade tensions and persistent low inflation in the central bank’s decision to lower borrowing costs by 25 basis points.

Source: CNBC


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