European stock markets are struggling to recover after the sell-off on the eve of Four Witches Day. The Dax rises by 0.10%, the Cac40 drops by 0.11% and the Ftse100 by 0.05%, while the Ftse Mib scores +0.25% to 23,786 points. Wall Street futures are down (-0.17% on the Dow Jones and -0.19% on the S&P500). The European Central Bank has decided to follow the Bank of England (rates at 2008 highs) and the Federal Reserve (Fed) by raising interest rates by 50 basis points, which now stand at 2.50% respectively. 2.75% and 2% for main refinancing operations, marginal and deposit lending.
The ECB has envisaged "further increases" to keep rates "at restrictive levels" which "will curb demand" and will "protect against the risk of a persistent increase in inflation expectations". “A cold shower on the markets that were hoping for a less hawkish attitude from Christine Lagarde.