European Stocks Decline as Focus Shifts from Fed to Tariffs

European stocks retreat as traders weigh the news that U.S. President Donald Trump is set to announce tariffs against China and the Federal Reserve raised borrowing costs Wednesday.

The Stoxx Europe 600 Index drops 0.5% at 373.44, with 18 of 19 industry groups in the red. Technology, chemicals and lender shares are the worst sector decliners. Reckitt Benckiser Group Plc rises 6.5% after the company ended discussions about buying a portion of Pfizer Inc.’s consumer health business.

Federal Reserve officials raised the benchmark lending rate a quarter point and forecast a steeper path of hikes in 2019 and 2020, but didn’t suggest they were leaning toward four rate hikes this year, as some had expected.

Source : Bloomberg

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China Stocks Down; Tech Firms Fall on Profit-Booking

China stocks erased early gains and ended lower on Wednesday, weighed down by start-up firms, as investors booked profits in shares of technology companies.

At the close, the Shanghai Composite index was down 0.3 percent at 3,280.95. The blue-chip CSI300 index was down 0.38 percent, with its financial sector sub-index losing 0.01 percent, the consumer staples sector falling 0.77 percent and healthcare sub-index shedding 0.67 percent; the real estate index gained 0.56 percent

The smaller Shenzhen index ended down 0.73 percent and the start-up board, ChiNext Composite index, was weaker by 1.86 percent, its worst day in five weeks.

Source : Reuters

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