European markets slide ahead of Jerome Powell's speech

The Stoxx Europe 600 Index fell even as a strong PMI report came in from France.

Aug 22, 2019 10:08 IST India Infoline News Service

European stocks slid alongside US equity futures as traders await an address by Jerome Powell on Friday.

The Stoxx Europe 600 Index fell even as a strong PMI report came in from France.

Traders are expected to reduce activity in the US ahead of Fed Chairman Jerome Powell’s address on Friday at the annual Jackson Hole gathering.

Meanwhile, Hong Kong shares saw the biggest drop, while Chinese markets inched higher and Japanese markets ended flat.

President Donald Trump kept his attack on the Fed Reserve on stating that “the only problem we have is Jay Powell and the Fed.”

The British pound stayed low as chances of a no-deal Brexit loomed large.

Gold dipped, and oil fell as demand worries outweighed the drop in US stockpiles.

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