European stocks worried about Fed rate hike; DAX drops 0.2%

By FXStreet FXStreet (Mumbai) – The stock markets across Europe suffered moderate losses on Monday as the stellar NFP report released on Friday increased the odds of tightening.

At the time of writing, the pan-European blue chip Euro Stoxx 600 index was down 0.30%. Germany’s DAX fell 0.20%, while France’s CAC was down 0.40%. The UK’s FTSE index was trading dead flat.

Among Stoxx 50 stocks, BMW ST advanced 1%. Unicredit climbed 0.5%. Meanwhile, Enel shares shed 2.03%. Shares in Sanofi and Unilever were down 1.4% each.

The Labor Department reported on Friday that the US economy added 271,000 jobs and the unemployment rate dropped to 5.0%. The data pushed up December rate hike bets to 70%. The 2-yr treasury yield rose to its highest since 2010.

In the US, the major equity index futures are pointing to a weak opening.
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Source:: FX Street