European stocks fall from record highs as uncertainty creeps in

From Yahoo Finance:

European stock indexes were mostly down on Monday, with traders uncertain about the economy and awaiting U.S. inflation data. U.S. stocks fell on Friday from recent highs, likely due to profit-taking. MSCI World Equity index was down 0.2% while STOXX 600 was down 0.5%. Analysts suggest fatigue in the market and caution moving forward.

Expectations for a Federal Reserve rate cut in June remain, with U.S. inflation data due on Tuesday. U.S. Treasury yields have declined, as hope for a rate cut puts pressure on yields. The U.S. dollar index was flat at 102.68 and the euro was steady at $1.09375. Japanese policymakers are considering ending negative rates.

Oil prices recovered after falling last week, with Brent futures up 0.4% at $82.42 a barrel. The decline in the dollar and bond yields has supported gold prices, up at $2,180.63 an ounce. Cryptocurrency bitcoin hit a new high at $71,836. China aims to improve home sales amidst a troubled property market.



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