Live Markets-STOXX subdued as more rate hikes loom
SPY•Chipmakers drag tech lower
Losses in chipmakers made tech .SX8P the biggest sectoral drag in the region, with the index falling more than 1% to a fresh six-week low.
Gains elsewhere helped limit the fall, however, with around 300 STOXX constituents trading higher and 60 little changed. Advances were concentrated in software, healthcare and energy.
Earlier live markets links
- BEFORE THE BELL: EUROPE SOFTER AS OIL CLIMBS, TECH DRAGS CLICK HERE
- SHIPPING OIL GETS EVER HARDER, COSTLIER CLICK HERE
Reuters live markets context
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( Danilo Masoni )
STOXX edges lower as rate-hike concerns weigh
The STOXX 600 .STOXX edged lower in morning trade on Monday as concerns about a slowdown in AI development, coupled with looming interest rate hikes in the U.S. this week, alongside rising oil prices, weighed on global markets.
The pan-European index was down around 0.1%, holding above the two-month low hit last week after the European Central Bank increased borrowing costs and warned of higher inflation due to a war-driven energy shock.
