European equity close: Heavy selling on the ECB turn | Forexlive

It was a rough one in Europe as Lagarde took a decidedly hawkish stance.

• Stoxx 600 -2.8%
• German DAX -3.2%
• France’s CAC, -3.2%
• UK’s FTSE 100 -1.0%
• Spain’s Ibex -1.7%
• Italy’s FTSE MIB -3.3%

This ends a period of consolidation for the German DAX and puts to rest the quick-pivot trade.