European markets drop on Fed worries

European stocks declined at the opening of Tuesday's session, influenced by expectations of a Federal Reserve interest rate hike and increasing concerns over AI technology spending. The Stoxx 600 index dropped by 0.89% to 633.61 points, with most sectors, particularly basic resources and technology, experiencing declines. Asian markets also saw sharp declines, with the KOSPI index falling around 10%, amid predictions of a 50 basis point US interest rate increase before the end of the year.

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