(Seoul = Yonhap Infomax) Reporter Kim Ji-yeon = European stock markets opened lower on the 8th following hawkish remarks by Federal Reserve Chairman Jerome Powell.
According to the Yonhap Infomax World Stock Index (screen number 6511), as of 5:18 pm (Korean time), the Euro Stoxx 50 index showed 4,275.21, down 3.75 points (0.09%).
France’s CAC40 index fell 0.30% to 7,317.18, while Italy’s FTSE MIB index fell 0.27% to 27,687.26.
The FTSE100 index of the London stock market in the UK traded at 7,898.31, down 0.27%, and the DAX30 index of the Frankfurt stock market in Germany traded at 15,534.11, down 0.16%.
“Recent economic data have been stronger than expected, suggesting that final interest rates are likely to rise higher than previously expected,” Powell said last night during a Senate Banking Committee hearing.
It is interpreted that Chairman Powell put downward pressure on the stock market by stating that the possibility of raising interest rates by 50 basis points is open at the Federal Open Market Committee (FOMC) in March, and that the final rate will be higher.
European Central Bank (ECB) President Christine Lagarde is scheduled to speak in Europe on this day.
As Governor Lagarde mentioned the possibility of a 50bp interest rate hike in an interview with Spanish newspaper El Coreo last weekend, the market is paying attention to his remarks to get a hint on the ECB’s interest rate hike.
In addition, the fourth quarter gross domestic product (GDP) revision of the eurozone (19 countries using the euro) will be announced on the same day.
jykim@yna.co.kr
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This article was serviced at 17:26, 2 hours earlier on the Infomax financial information terminal.
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