(Bloomberg) European stock futures fell as the region’s energy crisis continued to escalate and investors fretted over the hawkish central banks’ impact on the economy while monitoring news about the UK government’s tax proposal. December contracts on the Euro Stoxx 50 Index were down 1.2% by 7:38 a.m. in London after earlier falling as much as 2.4%. FTSE 100 futures also pared early losses to trade down 1% after Prime Minister Liz Truss dropped a plan to cut taxes for the highest earners just 10 days after announcing it. Read More: Relentless Dollar Rally Raises Bets on Interventions: MLIV Pulse Meanwhile, Russia’s state-controlled Gazprom PJSC suspended natural gas deliveries to Italy, escalating the energy crisis in Europe. The UK’s political turmoil has added to headwinds for Europe investors already grappling with the fallout of Russia’s war in Ukraine as well as global concerns tied to inflation and higher rates. The pound touched a record low against the dollar las
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Need to Know: Short-term pain for long-term gains. Investors need to settle in for the long haul, says Bernstein. Need to Know July 20, 2022 View in Web Browser Short-term pain for long-term gains. Investors need to settle in for the long haul, says Bernstein. By Barbara Kollmeyer Critical information for the U.S. trading day