Europe Markets: European stocks swing to the red as telecoms fall, Fed’s Powell comes into focus

European stocks swung lower Tuesday, facing a second straight loss as telecom shares came under pressure while investors appeared to step back from risk ahead of testimony about monetary policy from U.S. Federal Reserve Chairman Jerome Powell.

How markets are performing

The Stoxx Europe 600 index SXXP, -0.20% fell 0.3% to 383.91, with the telecom sector losing the most, but the basic materials and financial groups holding to small gains. The pan-European index had been up by a modest 0.2% earlier in the session. On Monday, it lost 0.3%.

On national indexes, France’s CAC 40 index PX1, -0.30% fell 0.4% to 5,386.30, and Germany’s DAX 30 index DAX, -0.10% moved down 0.2% to 12,532.81.

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