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European Markets Fall After Bank of Japan Rate Disappointment

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European stocks fell sharply on Thursday, after the Japanese central bank disappointed investors by standing firm on rates. Benchmark indices extended losses in the course of the morning.

The Bank of Japan's inaction followed an interest-rate status quo on Wednesday from the Federal Reserve, whose relatively upbeat post-decision commentary failed to quash expectations of a rate rise later this year, possibly as early as June.

In London, the FTSE 100 was recently down 1.38% at 6,233.55. In Frankfurt, the Dax fell 1.51% to 10,144.79 and in Paris the Cac 40 fell 1.61% to 4,485.80.

S&P 500 mini futures were down 0.91%.

Stocks extended early losses after German government data showed the unemployment rate holding at a record low of 6.2% and the ranks of jobless unexpectedly shrinking by 16,000 in April, adding further color to a picture of economic recovery painted by the latest German Ifo business sentiment indicators released earlier this week.

Meanwhile, a slew of business, economic and consumer sentiment indicators for April from the European Commission came in ahead of expectations. Taken together the data make it less likely the European Central...


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