European Stocks Close Lower as Traders Assess Fed Policy, Data

European stocks declined as traders weighed hawkish monetary policy and earnings. Hawkish commentary from Fed Chair Jerome Powell shook markets this week. Credit Suisse and Hugo Boss posted losses, while Caterpillar signaled US recession may be averted.

March 10, 2023 . 2:49 PM

1 min read

European equities declined as traders weighed hawkish monetary policy and earnings, albeit trimming an intraday slide after US jobless claims unexpectedly jumped.
Hawkish commentary from Fed Chair Jerome Powell has shaken markets this week as traders fret over the path of monetary policy.
Credit Suisse Group AG posted its longest losing streak since Dec. 20, down for a fourth day.
Hugo Boss AG dropped after its 2023 guidance came in below Jefferies’ estimates on Ebit.
Caterpillar said strong demand for construction equipment signaled the US would avert a recession this year.