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Europe Markets: European stocks drive lower as Fed chief hints of more rate hikes

European stocks were pushed lower Wednesday, in line with losses in other global equity markets as investors start to price in the probability that the Federal Reserve will ramp up its pace in raising borrowing costs this year.

How markets are trading

The Stoxx Europe 600 index SXXP, -0.16% fell 0.3% to 381.34. No sector was higher and the basic materials group fell the most. On Tuesday, the benchmark lost 0.2%.

Germany’s DAX 30 index DAX, -0.12% gave up 0.3% to 12,454.93, and France’s CAC 40 PX1, -0.18% fell 0.3% at 5,327.88.

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