VGK - European ETFs sell-off as Euro indices plummet amid interest rate hikes

European ETFs encountered a wave of sellers in the early part of trading Thursday, with European indices like the FTSE 100, German Dax, CAC 40, FTSE MIB and others falling some 2%-3%. The U.S. Federal Reserve's decision to raise rates by 75 basis points has had a degree of an effect on Euro-based funds. At the same time, the region was hit by more local central bank decisions, with rate hikes also coming from the Bank of England and Swiss National Bank. On Thursday, the BoE raised its benchmark rate by 25 basis points to 1.25%. Also, the SNB executed an unexpected 50 basis-point interest-rate hike to -0.25%. Furthermore, this was the first hike by the SNB in 15 years. The Swiss central bank has maintained negative interest rates since 2015. As central banks' focus on global inflation, a selloff has started to take place and European ETFs have been caught

For further details see:

European ETFs sell-off as Euro indices plummet amid interest rate hikes