Markets Wrap: European stocks fall back as traders dial back rate cut hopes
Investors reset their expectations of when the Federal Reserve will start cutting interest rates and assessed a deluge of corporate earnings
Stocks fell in Asia and Europe as investors reset their expectations of when the Federal Reserve will start cutting interest rates and assessed a deluge of corporate earnings.
Europe’s Stoxx 600 dropped 0.3% on a crowded day in the region’s reporting calendar. Adidas AG slumped 7% after providing lower-than-expected profit guidance, while BNP Paribas SA dropped 8% after lowering its performance targets for 2025.
A regional gauge of Asian stocks slipped 0.5%. Aozora Bank Ltd. fell 21% in Tokyo after it announced losses tied to US commercial property, echoing troubles for New York Community Bancorp in America. US equity futures signaled a partial rebound after the S&P 500 dropped 1.6% Wednesday, the most since September, as the Fed pushed back on hopes that policy easing could start next month.
