European stock markets slide ahead of US payroll report amid fears of rising interest rates

WASHINGTON, DC - DECEMBER 02: Federal Reserve Chairman Jerome Powell listens to a question during a House Financial Services Committee oversight hearing to discuss the Treasury Department's and Federal Reserve's response to the coronavirus (COVID-19) pandemic on December 02, 2020 in Washington, DC. Treasury Secretary Steve Mnuchin is also scheduled to testify.

Traders were left disappointed last night after Federal Reserve chair Jerome Powell did not indicate that the Fed might step up purchases of long-term bonds to hold down longer-term interest rates. Photo: Getty

European stocks mostly fell on Friday amid fears of a rise in interest rates and a continued rotation out of growth stocks into the likes of industrials.

The FTSE 100 (^FTSE) fell sharply after opening but recovered losses by mid-morning thanks to a steep fall in the pound. London’s…


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