cnbc.com/2022/06/23/european-stocks-open-to-close-as-recession-fears-continue.html
The pan-European Stoxx 600 dropped 0.5% by late morning, having recouped more than half of its earlier losses. Flash estimates of French and German PMI readings for June came in weaker than expected, adding to recession fears. U.S. Federal Reserve Chairman Jerome Powell told Congress on Wednesday that a recession is a "possibility"

European stocks closed lower on Wednesday, reversing gains made in the previous sessions. Banks fell 1.5% while travel and leisure stocks gained 1.1%. Aroundtown fell more than 7% to the bottom of the European blue chip index after JPMorgan downgraded the real estate company's stock to "underweight"

The major indexes slipped into the red at the end of regular trading. Investors weighed the likelihood of a recession after comments from Federal Reserve chair Jerome Powell. Powell told Congress on Wednesday that the central bank is "strongly committed" to bringing down inflation after the rate hit a 40-year high.

Flash estimates of French and German PMI (purchasing managers index) readings for June came in weaker than expected. The German composite PMI, which captures manufacturing and services activity, dropped to 52.0 from May's 54.8, below a forecast of 54.0 by analysts in a Reuters poll.
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