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European Stocks Fall As Inflation Concerns Worsen Amid Middle East Tensions
(MENAFN- Gulf Times) European shares fell on Thursday as traders assessed the likelihood of an imminent interest rate hike by the European Central Bank (ECB) and amid concerns about ongoing tensions in the Middle East.
The pan-European STOXX 600 was down 0.6% at 583.8 points, and was on track to break a three-day winning streak.
Meanwhile, rising yields on short-term European bonds, which reflect interest rate expectations, weighed on stocks.
A surge in crude oil prices pressured travel and leisure stocks, whose sub-index fell 0.9%, while concerns about growth impacted the industrial and banking sectors, which declined 0.9% and 1%, respectively.
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