European stocks hit 10-week low

European stocks fell on Tuesday, affected by a decline in real estate and technology stocks, after the Bank of Japan rattled global markets with a sudden policy shift that would allow long-term interest rates to rise further.

According to “Reuters”, the European Stoxx 600 index fell 0.9 percent by 0808 GMT, its lowest level since November.

The German DAX index fell 0.8 percent, as 10-year bond yields hit their lowest levels in more than a month.

Interest rate-sensitive real estate and technology shares led the decline in the Stoxx 600 index, as the real estate index fell 1.9 percent and technology fell 1.6 percent.

The mining sector fell 1.2 percent, in light of the decline in copper prices due to concerns about short-term demand from China, after new infections with Covid-19 affected the economic activity of the country.

Orange shares fell 1 percent after the French telecom group announced that its assistant chief executive officer and chief financial officer, Ramon Fernandez, would leave the company.