China Lifts Rates, European and U.S. Stocks Lower
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Over the weekend, the People's Bank of China increased one-year rates by 25 basis points to 5.81%, its second such hike since mid-October. The move was the latest in a series of measures taken by the government to curb inflation.
The moves in China have European and U.S. stocks lower. In Europe, the CAC 40 is down 1.1%, while the DAX is down 1.2%. In the U.S., Dow futures are down 35 and S&P 500 futures are down 4.50.
Gold is slightly higher despite the news from China. February Gold futures rose $1.20 to $1381.70.
The moves in China have European and U.S. stocks lower. In Europe, the CAC 40 is down 1.1%, while the DAX is down 1.2%. In the U.S., Dow futures are down 35 and S&P 500 futures are down 4.50.
Gold is slightly higher despite the news from China. February Gold futures rose $1.20 to $1381.70.
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