European stocks hit three-month lows on bond yields
European shares tumbled to three-month lows as rising global bond yields pressured banking stocks. High borrowing costs and persistent inflation weighed on investor sentiment across the region.
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European shares fell 1.3% on Thursday afternoon as surging government bond yields hammered banking stocks, marking the STOXX 600 index's biggest one-day drop in three weeks. The decline pushed the pan-European benchmark to its lowest level in over three months. This downturn reflects growing investor anxiety that interest rates will remain elevated for longer.
