European shares hit three-month low on oil spike
European shares dropped to a three-month low as rising oil prices and bond yields revived inflation and rate concerns ahead of the Federal Reserve meeting. Banks and luxury stocks led the declines, while energy shares gained.
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European shares fell 0.3% to a three-month low of 634.18 points on Tuesday morning as rising oil prices and bond yields rattled investors. The drop reflects mounting caution across markets ahead of the upcoming Federal Reserve rate decision in the United States. Higher borrowing costs and renewed inflation worries are weighing heavily on regional equity valuations.
