European stock markets opened negative as investors responded to the Fed Chairman's statement. Automotive stocks and mining stocks fall, dragging the market

European stock markets opened negative as investors were disappointed by the poor performance of listed companies. and automotive stocks Mining stocks fall, dragging the market While responding to the Fed Chairman's statement

On July 16, 2567, CNBC reported that European stock markets opened negative today. Investors assess the economic trends in the region. and the poor performance of many listed companies.

STOXX 600 Index The market opened at 517.78 points, down 0.95 points or -0.18%.

DAX German stock market index The market opened at 18,586.42 points, down 4.47 points or -0.02%.

CAC-40 French stock market index The market opened at 7,583.50 points, down 49.21 points or -0.64%.

Automotive stocks fell 1.35%, while mining stocks dropped 1.34%.

Hugo Boss stocks German fashion company fell more than 10% after the company cut its full-year sales forecast. by giving reasons for macroeconomic challenges and geopolitical problems.

Burberry stocks (Burberry) The British luxury fashion brand fell 3%, continuing its fall from yesterday. After warning that profits might stagnate This is due to weak demand for luxury products.

Global markets assess the statement of Jerome Powell, Chairman of the Federal Reserve (Fed) This signals the easing of monetary policy and lowering interest rates should not wait until inflation reaches the target of 2% because it will be too long to wait.

Investors will also keep an eye on the release of economic data in the region, including May retail sales. of Germany and industrial production in May in the euro zone

refer : cnbc.com

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