European stock markets start September with a negative sign after the heavy losses in August in the climate of concern created by the interest rate hikes of the central banks and the risk of recession.
Federal Reserve Chairman Jerome Powell’s aggressive speech on inflation last Friday and subsequent statements by central bankers on both sides of the Atlantic about the need for big interest rate hikes to put the brakes on the inflationary rally have sent shockwaves through international stock markets. .
European markets completed four consecutive negative sessions yesterday, closing at lows for the day after data showed new record inflation at 9.1% in August. The new jump in inflation fueled expectations that next week’s ECB interest rate hike will be 75 basis points, instead of 50 basis points as in July.
On the board, the pan-European STOXX 600 lost 0.95% to 411.17 points.
Germany’s DAX fell 0.9% to 12,719.93, France’s CAC 40 lost 1.1% to 6,055.34, while Britain’s FTSE 100 fell 0.8% to 7,224.12.
In the region, Italy’s FTSE MIB lost 0.9%, while Spain’s IBEX 35 fell 0.7%.
Source: Capital
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