European Shares Decline Amid Rising US Treasury Yields
(RTTNews) - European stocks drifted lower on Tuesday, tracking a rise in U.S. Treasury yields after the U.S. Supreme Court ruled that former President Donald Trump is entitled to immunity from federal prosecution for official actions he took while in office.
The landmark decision at the height of an election season stoked speculation about the possibility of another Trump presidency after last week's poor debate performance by incumbent Joe Biden.
Meanwhile, headline inflation in the euro area dipped to 2.5 percent in June, the European Union's statistics agency said, matching expectations.
The unemployment rate in the Eurozone stood at 6.4 percent in May, unchanged from April's reading, Eurostat said in another report.
The pan European STOXX 600 dropped half a percent to 510.57 after rising 0.3 percent on Monday.
The German DAX fell 0.8 percent, France's CAC 40 shed half a percent and the U.K.'s FTSE 100 was down 0.2 percent.
Ryanair Holdings fell about 1 percent in Dublin despite the budget airline reporting record passenger numbers for June.
J Sainsbury fell 2.2 percent in London after the supermarket chain flagged that adverse weather had weighed on recent volume growth.
Food services and facilities management firm Sodexo S.A. plunged 5.4 percent in Paris after Q3 sales lagged expectations.
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