Europe Markets: European stocks slump as Yellen’s rate hike message sinks in

European stocks kicked off the week in negative territory, with rising expectations the U.S. Federal Reserve will raise interest rates later this year punching the air out of the recent rally.

The Stoxx Europe 600 index SXXP, -0.47% lost 0.6% to 341.80, pulling back after a 1.1% climb last week.

The pan-European benchmark settled 0.5% higher on Friday, as Fed Chairwoman Janet Yellen at a closely watched speech at Jackson Hole, Wyo. said the U.S. economy is improving, seen as a sign of confidence in economic growth world-wide. The central bank boss also hinted a rate increase is on the cards in coming months, which weighed on U.S.

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