European stocks slip as investors bet on continued high US inflation

Irish Times | Sep 14, 2021 at 12:30 PM
  • European stock markets dropped as traders anticipated data would show a continued surge in US inflation that may sway the Federal Reserve towards tightening its pandemic-driven loose monetary policies.
  • US central bank officials in recent days have indicated their willingness to taper the $120 billion of monthly bond purchases the Fed has conducted through the pandemic to lower borrowing costs and boost lending and spending.
  • In Asia, Hong Kong’s Hang Seng index fell 1.4 per cent, after losing 1.5 per cent on Monday, amid a Chinese government crackdown on the tech and gaming industries and stress in the nation’s property market.