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Real estate, tech drag Europe's STOXX 600 down on rate hike jitters

Tech led European shares lower on Wednesday following hawkish signals from Federal Reserve Chair Jerome Powell, while real estate stocks slid as the prospect of more interest rate rises stoked fresh concerns about mortgage costs after UK inflation failed to slow down in May. The continent-wide STOXX 600 index closed 0.5% lower, extending declines to the third consecutive session. Fed Chair Powell told lawmakers that the fight against inflation still "has a long way to go" and despite...
United States United Kingdom Anna Titareva Sohini Goswami Jerome Powell Shreyashi Sanyal
Source: yahoo.com

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