(Bloomberg) — European stocks retreated for a second day as dialed-down bets for Federal Reserve policy easing weighed on risk sentiment.
Most Read from Bloomberg
The Stoxx 600 fell 0.2% after snapping its longest winning streak since 2021 in the previous session. US futures contracts were little changed after both the S&P 500 and Nasdaq 100 retreated from record highs. The dollar and Treasuries held steady.
Luxury group Richemont gained more than 6% after appointing Nicolas Bos as new chief executive officer in a management shake-up. A gauge of the biggest banks edged higher after gaining 21% so far this year.
Friday’s caution reflected a repricing of US rate cut expectations to only one reduction in 2024. Several policy makers said the Fed should keep borrowing costs higher for longer as they await more evidence inflation is easing.
“The markets are now at a bit of a crossroads,”…
