View of Navigli, Milan, Italy on May 20, 2024.
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LONDON – European stocks fell on Monday as investors braced for this week’s interest rate decisions from the Federal Reserve and the Bank of England.
As of 2:00 pm London time, the regional Stoxx 600 index fell 0.15%, with sectors and major exchanges diverging. After the U.S. stock market opened, technology stocks fell 1.25%, continuing their decline, with Apple’s performance under pressure.
Europe’s benchmark index closed higher on Friday, rising 1.09% for the week, as markets returned to positive momentum.
With U.S. interest rate cuts almost a foregone conclusion, investors are waiting to see how much the Federal Reserve will cut rates on Wednesday and what guidance Fed Chairman Powell will give on the path of future monetary policy.
The Bank of England will also meet on Thursday to formulate its latest monetary policy decision, and the market is currently divided over whether the Bank of England will cut interest rates for the second time in two months.
Asian markets were mixed on Monday as investors digested key economic data from China and awaited the Bank of Japan meeting on Friday.
Back in Europe, Italy’s inflation rate dropped to 1.1% in August, setting a new record high. data Display from Istat.
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