India, Aug. 27 -- European stocks closed weak on Thursday amid concerns over geopolitical tensions and uncertainty about Fed interest rates. Upbeat quarterly earnings and guidance from U.S. chip maker Nvidia triggered strong buying in the tech sector, but stocks from most of the other sectors struggled to find support.
A Fed rate hike by year-end looks likely following Wednesday's data showing firmer-than-expected U.S. inflation. The U.S. Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2% in July after edging down by 0.1% in June. Economists had expected prices to inch up by 0.1%.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission fr...