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PARIS (Reuters) – Major European stock markets closed lower on Tuesday after disappointing Chinese economic data and a bigger-than-expected rise in monthly retail sales in the United States raised fears that the Fed might hike further. interest rate next month.
In Paris, the CAC 40 lost 1.1% to 7,267.70 points. The German Dax fell 0.86% while the British Footsie lost 1.57%.
The EuroStoxx 50 index fell 0.96%, the FTSEurofirst 300 fell 0.99% and the Stoxx 600 declined 0.93%.
The expectation of a September pause in the US Federal Reserve’s monetary tightening campaign fell to 86.5% after the retail sales data in July, from 89% previously.
In addition, the Chinese central bank lowered the rate of medium-term loans for certain companies in the financial sector, a measure intended to stem the slowdown in activity but which was ignored by investors.
NysIndeed, growth in Chinese retail sales and industrial production disappointed, while new construction continued to decline.
At the time of closing in Europe, Wall Street was moving down. The Dow Jones index lost 0.73% to 35,050 points.
(Written by Kate Entringer, edited by Jean Terzian)
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