FLIY - European stock markets lower as investors digest Fed chair comments rate hike; BOE decision due
2023-03-23 04:58:32 ET
London -0.49% .
Germany -0.10% .
France -0.15% .
The pan-European Stoxx 600 was down 0.55% lower, with banks falling to lead losses.
The U.S. central bank hiked rates by another 25 basis points on Wednesday and expressed caution about the recent banking crisis. It also indicated that hikes are nearing an end.
Switzerland’s central bank raised its benchmark interest rate by 50 basis points, taking it to 1.5%. The decision comes after volatility in the banking sector led to UBS’ acquisition of Credit Suisse.
Coming up in the session: The Bank of England will be announcing its own interest rate decision at midday in London. The meeting comes a day after data was released showing U.K. inflation rose unexpectedly in February.
In the bond market, the yield on 10-year Treasuries was down more than one basis point to 3.48%.
Germany’s 10-year yield was down more than four basis points to 2.28%.
Britain’s 10-year yield was down more than one basis points to 3.43%.
ETFs: ( EWG ), ( GF ), ( EWI ), ( EWQ ), ( EWGS ), ( FGM ), ( DBGR ), ( DXGE ), ( HEWG ), ( DAX ), ( FLFR ), ( FLGR ), ( FLIY ), ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ).
More on the Bank Crisis:
- Saudi National Bank hit with over $1B loss on Credit Suisse stake - report
- Credit Suisse staff deferred bonuses to be suspended as ordered by Swiss Federal council
- UBS Swallows Credit Suisse: More Holes Than Cheese
- UBS Just Got A Monster Bargain - And Investors Can, Too
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European stock markets lower as investors digest Fed chair comments, rate hike; BOE decision due