European shares fell on Wednesday as investors awaited US inflation data expected to reach its highest level in 40 years, which supports a large interest rate hike and may push the euro to parity with the dollar.<\/p>\n\n\n\n
The pan-European Stoxx 600 index fell 0.8 percent after closing higher in a volatile trading session on Tuesday. The largest declines were recorded in the banking, healthcare and mining sectors.<\/p>\n\n\n\n
The price of the euro has fallen in the recent period, amid investors’ fear that the tightening of monetary policy will cause an economic recession.<\/p>\n\n\n\n
Markets expect US inflation data for June, which is expected to be released at 1230 GMT, to lead to a new surge in the dollar’s price to reach parity with the single European currency.<\/p>\n\n\n\n
Shares of Spanish banks and electricity companies fell further after the government announced that it would impose a temporary tax on companies to raise about seven billion euros in 2023 and 2024 to help citizens adapt to inflation.<\/p>\n\n\n\n
Amid an energy row with Russia, Germany’s financial watchdog has warned that the sector faces an uncertain future while banks are already struggling with loan defaults.<\/p>\n\n\n\n
The German DAX index fell 1.2 percent, leading European indices lower.<\/p>\n","protected":false},"excerpt":{"rendered":"
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