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European stocks fall on inflation fears, yen near 38-year low

June 26, 2024

European stocks fell on Thursday as traders were cautious ahead of key inflation data, while markets were also on alert for signs of Japanese authorities intervening in the yen after further declines in the currency.

Investors have become more worried about inflation following a surprise jump in inflation data in Australia on Wednesday and in Canada on Tuesday.

Equity markets were also hit by falling semiconductor stocks, after investors were disappointed by chipmaker Micron Technology (NASDAQ:MU)’s revenue forecast on Thursday.