European Stocks Drop to One-Month Low After ECB, Fed Rate Hikes
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European shares fell a one-month low as the region’s central bank hiked rates as expected a day after a similar move by the US Federal Reserve, while investors also weighed another busy day for corporate earnings.
The Stoxx 600 closed down 0.5% at its lowest level since April 6. It had pared declines after a flurry of US economic data, including figures showing the biggest increase in jobless claims in six weeks, flagging some softening in a resilient labor market.