European Stock Markets Hit Record Highs on US Jobs Data

European equities closed at record highs as softer-than-expected US employment data eased concerns over interest rate hikes. Investors showed increased risk appetite on expectations that the Federal Reserve (Fed) will not continue aggressive rate increases, leading to a broad-based rally in European stock markets. The US non-farm payrolls data came in below expectations, fueling optimism that the pace of rate hikes may slow. Stocks in the technology and industrial sectors were among the biggest beneficiaries of this positive sentiment. Major European indices maintained an upward trend throughout the day. Analysts suggest the data could lead the Fed to be more cautious in tightening monetary policy. This supported risk appetite in global markets and helped European bourses reach record levels. Investors will closely monitor inflation data and central bank statements in the coming period. This is not investment advice.