Thursday, 25 July 2024

European indices decline after sharp losses in Wall Street


European indices declined at the beginning of trading today, Friday, May 24, after a similar decline in global markets, as US interest rates pressure expectations on confidence.

The Dow Jones Index recorded its worst daily performance in more than a year yesterday, Thursday, after the US Federal Reserve’s minutes and strong US economic data reinforced expectations of maintaining high interest rates for a period.

While the European Central Bank continues to search for evidence to determine the appropriate timing to start reducing interest rates.

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In terms of trading, the Stoxx 600 index fell by about 0.6% to 518 points. The German DAX also fell by 0.6%, recording 18,579 points, the British FTSE by 0.7%, to 8,280 points, while the French CAC fell by 0.6%, to 8,055 points.