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European stocks diverge as Fed hints at December rate hike

The Federal Reserve provided an upbeat assessment of the US economy, but the news sent European markets wobbling as a Fed rate hike appeared imminentIn initial trade, London’s benchmark FTSE 100 index of major blue-chip companies shed 0.43 percent to 6,410.11 points. “The Fed has just created more uncertainty in the markets,” said Oanda analyst Craig Erlam. While the Fed provided an upbeat assessment of the US economy after its latest policy meeting, the news took the wind out of an advance across global markets in October, which had been supported by expectations that an interest rate rise would be delayed.

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