European stocks steady amid tech and Fed outlook
European stocks generally declined amid pressure from a sell-off in technology shares and expectations of tightening U.S. monetary policies. The Stoxx 600 index remained stable, while the German DAX dropped by 0.6%, and other indices saw limited gains. This reflects investor caution regarding the high valuations of technology companies and the impact of monetary policy on economic growth, with a 50 basis point rate hike possibly on the table by the end of the year. Economic indicators in the Eurozone continue to show signs of structural slowdown, while the Bank of England is still compelled to keep interest rates high to combat persistent inflation.
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