Major European stocks registered losses at the end of Tuesday's session as investors digested the latest remarks from Federal Reserve Chair Jerome Powell. Testifying before the Senate Banking Committee, Powell warned the Fed will have to push interest rates higher than policymakers initially expected. The session was also marked by another batch of economic data across the continent.
The DAX dropped 0.60% at the closing bell and the Euro Stoxx 50 slid 0.81%, pulled by Vonovia SE's 5.38% decline. The CAC 40 declined by 0.46%, with Eurofins Scientific decreasing by 2.09%. The FTSE 100 slipped 0.13%, as Fresnillo Plc tumbled 6.84%.
The euro tumbled 0.92% against the dollar to sell for 1.05788 at 5:28 pm CET, while the pound plunged 1.31% to $1.18612 at the same time, touching the lowest levels since early January.
