European Markets Brace For Fed's Tightening

stockmarkets jan18 14jan22 lt

European stock markets followed Asian peers to tread deep into the red, bracing for interest rate hikes by the Fed as early as March.

U.K.'s FTSE 100 is 0.19 percent below the previous closing level of 7563.85. It is currently trading at 7549.35. In the 101-scrip index, 34 scrips are in positive territory.

France's CAC 40 index's current level of 7139.35 is 0.86 percent below the previous close of 7201.14. Of the 40 scrips in the index, 10 are trading above Thursday's levels.

Germany's DAX is currently trading at 15886.28, after shedding 0.91 percent from Thursday's close. 15 of the 40 scrips have gained since previous close.

Switzerland's Stock Market Index is also down from previous close and is currently trading at 12536.06 after losing 0.67 percent.

The pan-European Stoxx 600 too declined by 0.78 percent from previous close and is currently trading at 482.26.

The EURUSD pair is currently hovering near 1.1448 whereas the GBPUSD pair is near 1.3712.

On Thursday, European markets had traded weak amidst a lingering fear against the imminent interest rate tightening by Fed. U.K.'s FTSE 100 had gained 0.16 percent, Germany's DAX gained 0.13 percent, the pan European Stoxx 600 moderated 0.03 percent, Switzerland's SMI shed 0.39 percent and France's CAC 40 declined 0.50 percent.

Likewise, American stocks continued their decline with the Nasdaq-100 dropping 2.57 percent to close at 15,495.62 and the Dow Jones Industrial Average moving down 0.49 percent to end at 36,113.62.

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