Negative climate in Europe and Athens today, with the General Index falling (-0.75%) after three consecutive upward sessions.
European shares opened lower on Tuesday as investors looked at the global economic and political outlook, following Powell’s comments on the possibility of a rate cut.
The pan-European Stoxx 600 index fell by 0.6%, as all sectors and major bourses traded in the red. Autos led the losses, losing 1.35%, while mining stocks also fell 1.34%. In Germany, the DAX fell 0.66%, while in Paris the CAC fell 0.86%. London’s FTSE is also in the red (0.5%).
Federal Reserve Chairman Jerome Powell said on Monday that Central bank won’t wait until inflation hits 2% to lower interest rates. Speaking at the Economic Club of Washington, Powell argued that “if you wait until inflation falls to 2%, you may be waiting a long time because the current tightening has effects that are likely to push inflation below 2%,” .
individual, the stock of Hugo Boss fell 10% on Tuesday after the company cut its sales outlook, becoming the latest luxury company to warn of continued problems in the sector. The German fashion house said on Monday that it expects full-year sales of up to 4.35 billion euros ($4.73 billion), slightly down from its previous forecast of up to 4.45 billion euros.