European Equities Edge Lower from Record High

European Equities Edge Lower from Record High

12 Apr 2021 02:46 PM
 

European equities inched down from all-time highs today as investors held off from making big bets ahead of the earnings season. Covid-19 worries are weighing on the euro.

The pan-European STOXX 600 index dropped 0.4% after ending at a record high on Friday, with banks, commodity and retail sectors among the biggest losers.

EUR/USD is trading below 1.19, driven by a risk-off mood that supports the U.S. currency. Fed Chair Powell said the US economy is at an "inflection point" but urged caution regarding the virus.