European markets are volatile as investors around the world struggle with Fed tightening concerns

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Last Updated on August 31, 2022 by Bitfinsider

By mid-morning, the pan-European Stoxx 600 was down 0.5% after giving back gains of a comparable magnitude at the start of the day. While basic resources increased 1%, utilities declined 1.3%.

Since last Friday, when Federal Reserve Chair Jerome Powell made hawkish comments, market concerns have been pervasive. President of the New York Fed John Williams called for a “somewhat restrictive policy to dampen demand” on Tuesday.

Following Wall Street’s negative lead on Wednesday, shares in the Asia-Pacific region also declined as investors analyzed statistics on China’s manufacturing activity. In early premarket trade, U.S. stock futures were little higher.

The European Union must “as soon as feasible” decouple the price of gas and decarbonized energy, according to French Finance Minister Bruno Le Maire, who also noted that France has been collaborating with the EU Commission on the matter.

Early activity saw little in the way of notable individual share price change on the Stoxx 600.

Following the release of its first-half results, Belgian diversified group Ackermans & van Haaren increased 6.6% to take the lead in the index, while British power group Drax decreased 2.5%.

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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