Wall Street

European stocks stabilise after inflation-fuelled selloff

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Reuters UK

(Reuters) – European equities rose almost 1% on Tuesday as investors bought into beaten-down shares following a bruising selloff in the previous session on worries over aggressive U.S. interest rate hikes and a potential recession. The continent-wide STOXX 600 index rose 0.9% by 0705 GMT after sliding 2.4% to over three-month lows on Monday. Early gains were broad-based, with battered banks, travel & leisure and technology stocks up between 1.1% and 1.8%. Wall Street’s top share index confirmed it is in a bear market on Monday on growing fears that the expected aggressive interest rate hikes b…

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