Stocks in Europe drifted after Asian shares declined as investors digested the latest signals from the Federal Reserve on the monetary-policy outlook, escalating tensions in the Middle East, and a fractious U.S. political landscape. Crude headed for a fourth day of gains, while Treasuries and the dollar steadied.
Oil company shares led gains on the the Stoxx Europe 600 Index, blunting the downbeat sentiment from Asia, where equity benchmarks from Tokyo to Sydney fell. A day earlier the S&P 500 Index retreated amid provocative comments by President Donald Trump about Russia and his warning of preparations to attack Syria, which also heaped pressure on the Turkish lira. Europe’s single currency was steady before the release of industrial-production data.
Stocks weakened globally after it was disclosed that Fed officials leaned toward a slightly faster pace of policy tightening at their March meeting, even as they saw clear “downside risks” for the world’s biggest economy from retaliatory trade duties. Meanwhile, a key U.S. inflation measure accelerated to the highest in a year, but investors still took cover in Treasuries and other safe-haven assets after the White House said Trump is weighing options over Syria.
Source: Bloomberg Pro Terminal
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