STOCKS | European Stocks Fall on September 1 as Investors Await New Catalysts

European stocks fell on Tuesday after five straight months of gains. According to Sina Finance, higher oil prices intensified inflation concerns and pushed global bond yields to their highest level in nearly 20 years. The Stoxx Europe 600 closed down 0.6%, with travel and leisure and technology stocks among the biggest decliners, while energy and personal care shares outperformed. Florian Ielpo, head of macro at Lombard Odier Investment Managers, said rising yields were starting to reflect financing pressure more than a stronger growth outlook, and that the combination was not favorable for stocks. After a strong earnings season, investors are waiting for new market catalysts, and Europe’s benchmark indexes have stalled in recent weeks. Data showed eurozone inflation accelerated to its highest level in nearly three years, reinforcing the case for the European Central Bank to raise rates next week.