STOCK EXCHANGE: Europe opened lower, following Wall Street’s example yesterday

The Frankfurt Stock Exchange’s DAX index was down 0.43 percent at the time of the review. In London, the FTSE 100 index was down 0.16 percent. Stockholm’s OMXS30 index was down 0.4 percent.

The broad Stoxx Europe 600 index was down 0.14 percent after trading for a while.

Markets in Europe as well as in other parts of the world reacted to the US Federal Reserve’s key interest rate decision. On Wednesday, the Fed raised its key interest rate by 0.75 percentage points, as expected. Fed Chairman Jerome Powell said at a press conference that the economy is still strong and interest rate hikes are continuing.

Index futures predict a bearish opening for Wall Street. Yesterday was the third consecutive day of decline on Wall Street. Among the indices, the Dow Jones closed with a decrease of 0.35 percent, the S&P 500 with a decrease of 0.84 percent, and the Nasdaq with a decrease of 1.37 percent.

Yesterday, several European central banks announced their interest rate decisions. Britain raised its key interest rate by 0.50 percentage points to 2.25 percent. Norway’s central bank raised the interest rate by 0.5 percentage points to 2.25 percent. The Swiss National Bank raised interest rates above zero for the first time since 2014, raising rates by 0.75 percentage points to 0.5%.

By Editor

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