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European stocks steady on Fed hints
European stocks stabilized significantly as they approached their lowest levels in several weeks, following a sharp sell-off and concerns over rising energy costs and interest rate policies. Statements from Federal Reserve officials indicating the possibility of keeping interest rates unchanged helped reduce expectations of rate hikes in September, leading to a rebound in Asian markets and a decline in sovereign bond yields. Additionally, oil prices rose amid ongoing military tensions between the United States and Iran, which heighten inflation worries and impact European markets.
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