Technology stocks pushed European stock markets lower today, Wednesday, after hawkish comments from Federal Reserve Chairman Jerome Powell, while real estate stocks fell after expectations of another interest rate hike led to concerns about the cost of mortgage loans, in light of the continued decline in inflation in the United States. Britain.
The European Stoxx 600 index closed down 0.5%, continuing its decline for the third consecutive session.
Powell told US lawmakers that the battle on inflation still “has a long way to go” and that officials agree on the likely need to raise the cost of borrowing, despite the pause in raising interest rates at the most recent meeting of the Monetary Policy Committee.
Technology stocks, which are sensitive to interest rate moves, lost 1.6%.
UK CPI missed expectations and held at 8.7% in May. The data comes a day before the meeting of the Monetary Policy Committee of the Bank of England, which is expected to raise interest rates for the thirteenth time in a row, and the real estate sector index fell 1.6%.
