European stocks open lower as interest rate hike fears return

European stocks opened nearly 1% lower on Friday, with interest rate-sensitive technology stocks negatively affected by expectations that the Federal Reserve (the US central bank) will continue to tighten monetary policy, while Mercedes-Benz rose thanks to a strong earnings announcement.

According to “Reuters”, the European Stoxx 600 index fell 0.9 percent by 0813 GMT, with technology shares falling 1.8 percent. US data on Thursday showed producer prices rose to a seven-month high in January, while another report showed that the number of Americans filing new applications for unemployment benefits fell unexpectedly last week, fueling expectations of a rate hike by the US central bank. interest for a longer period

But luxury car maker Mercedes-Benz Group rose 1.8 percent, after the company beat analysts’ estimates for annual profits, posting stronger revenue.