European stocks climb as bond yields fall
European stocks slightly increased after a decline in global bond yields and a more moderate tone from Federal Reserve officials regarding interest rate hikes, which helped stabilize the indices following a strong sell-off in the markets. The rise in the 10-year government bond yield to over 3.37% impacted stock valuations, especially in growth and technology sectors. Meanwhile, oil prices fell below $90 a barrel amid anticipation of inflation data and signs of a weakening US labor market, as markets await further comments from Federal Reserve officials to gauge the future path of interest rate hikes.
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