Frankfurt Stock Exchange
By Anisha Sircar and Susan Mathew
(Reuters) – European stocks retreated on Tuesday after Federal Reserve chairman Jerome Powell warned that inflation in the United States may not be transitory amid concerns over the effectiveness of existing vaccines against the strain coronavirus omicron.
The FTSEurofirst 300 index fell 0.95% to 1,792 points, while the pan-European STOXX 600 index lost 0.92% to 463 points after falling 1.6% during the session to a seven-week low.
Speaking to the Senate Banking Committee, Powell said the Fed will use its tools to ease prices, and may consider ending the reduction in bond purchases sooner.
The Fed will await more details on the omicron before deciding on monetary policy, Powell said, prompting more anticipation for the December meeting.
The travel and leisure sector led losses in Europe, down 2.8%, having accumulated a low of 20.6% in November – the worst month since March 2020.
In LONDON, the Financial Times index retreated 0.71%, to 7,059 points.
In FRANKFURT, the DAX index fell 1.18% to 15,100 points.
In PARIS, the CAC-40 index lost 0.81%, to 6,721 points.
In MILAN, the Ftse/Mib index had a devaluation of 0.87%, to 25,814 points.
In MADRID, the Ibex-35 index dropped by 1.78% to 8,305 points.
In LISBON, the PSI20 index devalued 0.56%, to 5,433 points.
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source https://pledgetimes.com/powells-statements-and-fears-about-omicrons-weigh-on-european-markets-istoe-money/
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