European stocks fall as Fed hawks spur tech rout

European stocks fall as Fed hawks spur tech rout

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European stocks fall as Fed hawks spur tech rout

Stocks Bloomberg European stocks followed Asian shares lower on Friday after a slew of Federal Reserve officials signaled they’ll combat inflation aggressively. Treasury yields rise, while the dollar fell. Technology companies, which are seen as most sensitive to higher rates, were among the biggest declines in Europe’s Stoxx 600 Index. US futures ticked up after the Nasdaq 100 fell to its lowest level since October. Fed Governor Lael Brainard said officials could boost rates as early as March to ensure that generation-high price pressures are brought under control, while Patrick Harker and Charles Evans joined the calls for higher interest rates this year. Investors will turn their attention to earnings over the next few weeks to assess companies’ performances amid soaring inflation, pandemic restrictions and backlogs. “We are in a position where much that has been positive for equities is maybe moving to neutral or negative,” said Sarah Hunt, portfolio manager at Alpine Woods Capital Investors. “While there are still few alternatives, it makes the equity market ripe for more fluctuations over the next few months as we see how the data shake out and how the Fed reacts.” Electricite de

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