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6/21, 8:01 AM (Source: TeleTrader)
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Europe sinks premarket on hawkish Fed

Shares on major European stock markets sank during premarket trading on Monday as traders across the globe digested the Federal Reserve's hawkish shift revealed last week.

The Federal Open Market Committee might hike rates twice in 2023, earlier than it had previously expected, amid improving economic conditions and higher inflation.

The DAX dropped 0.96% at 8:00 am CET, while the CAC 40 fell 0.91%. Meanwhile, in London, the FTSE 100 was down 0.76%.

Breaking the News / JC