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European stocks appear to have been suppressed prior to Powell’s speech

European stocks could fall on Wednesday as investors hold their breath after a three-day rise.

As the risk of a recession increases, investors are waiting for a statement by Federal Reserve Chairman Jerome Powell and US quarterly GDP data scheduled for later that day.

New York Fed President John Williams and San Francisco’s Mary Daly said Tuesday that the hottest inflation in 40 years needed to cool, but argued that a soft landing was still possible.

Asian market Below Wall Street on the question of whether the Federal Reserve could avoid a serious recession.

The dollar rebounded from inflation concerns and global bond yields remained strong, but oil prices rose more than 2% and then fell in Asian trade amid fears of tight global supply on Tuesday. ..

Flash inflation data from Germany and economic confidence from the euro area are scheduled for the second half of the session, marking a bright day for European economic news.

Research shows that US consumer confidence has fallen to its lowest level in more than a year due to the surge in inflation, after which US stocks have wiped out previous rises and surged overnight. It fell to.

The Dow fell 1.6%, the tech-heavy Nasdaq Composite index fell 3%, and the S & P 500 fell 2%.

As China relaxes some of the COVID-19 quarantine requirements for international travelers, ECB Governor Christine Lagarde eases concerns about a recession in the euro area, and the largest U.S. lender has passed the Fed’s annual stress test. European stocks on Tuesday increased their winning streak for the third straight day. ..

Pan-Europe Stoxx600 rose 0.3%. Germany’s DAX rose 0.4%, France’s CAC 40 index rose 0.6%, and the UK’s FTSE 100 rose 0.9%.

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European stocks appear to have been suppressed prior to Powell’s speech

Source link European stocks appear to have been suppressed prior to Powell’s speech

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