European markets turn lower after Powell's caution

[A world globe with many pins in different global locations]
Richard Drury

London (UKX [https://seekingalpha.com/symbol/UKX]) -0.02% to 9,223.

Germany (DAX:IND [https://seekingalpha.com/symbol/DAX:IND]) -0.15% to 23,575.

France (CAC:IND [https://seekingalpha.com/symbol/CAC:IND]) -0.18% to 7,857.

Among other European nations, Denmark's central bank on Wednesday lowered its GDP forecasts for 2025–2027, citing the negative impact of US trade tariffs and weaker growth in the pharmaceuticals.

The business confidence indicator in the Czech Republic increased slightly. The consumer confidence indicator in the Czech Republic rose to 103.5 in September.

The manufacturing confidence indicator in Denmark dropped to 92.0 in September.

The Economic Tendency Indicator for Sweden rose to 97.2 in September.

Producer prices in Spain fell by 1.5% Y/Y in August.

The pan-European Stoxx 600 [https://seekingalpha.com/symbol/STOXX] (STOXX) [https://seekingalpha.com/symbol/STOXX] turned 0.54% lower to 551.9, as as Jerome Powell’s cautious remarks yesterday dampened risk appetite. He highlighted persistent risks in both the labor market and inflation, while also noting that equity prices appear relatively high.

IN THE BOND MARKET, European bonds mirrored the muted tone in U.S. Treasuries after Fed Chair Powell reiterated a cautious stance.

The U.S. 10-year Treasury yield was down 1 basis point to 4.11%.

Germany's 10-year yield was down less than 1 basis point to 2.74%.

UK's 10-year yield was down 1 basis point to 4.67%.

CURRENCIES: (EUR:USD [https://seekingalpha.com/symbol/EUR:USD]) (GBP:USD [https://seekingalpha.com/symbol/GBP:USD]) (CHF:USD [https://seekingalpha.com/symbol/CHF:USD])

ETFS: (NYSEARCA:EWG [https://seekingalpha.com/symbol/EWG]), (NYSE:GF [https://seekingalpha.com/symbol/GF]), (NYSEARCA:EWI [https://seekingalpha.com/symbol/EWI]), (NYSEARCA:EWQ [https://seekingalpha.com/symbol/EWQ]), (NASDAQ:FGM [https://seekingalpha.com/symbol/FGM]), (NASDAQ:DAX [https://seekingalpha.com/symbol/DAX]), (NYSEARCA:FLGR [https://seekingalpha.com/symbol/FLGR]), (NYSEARCA:FXB [https://seekingalpha.com/symbol/FXB]), (NYSEARCA:EWU [https://seekingalpha.com/symbol/EWU]), (NASDAQ:FKU [https://seekingalpha.com/symbol/FKU]), (BATS:EWUS [https://seekingalpha.com/symbol/EWUS]), (NYSEARCA:FLGB [https://seekingalpha.com/symbol/FLGB]), (NYSEARCA:GREK [https://seekingalpha.com/symbol/GREK])

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