AI sell-off deepens as chip stocks slump in market retreat - business live
Rolling coverage of the latest economic and financial newsEuropean stock markets have largely avoided the chip sell-off seen in Asia and the US – the Stoxx Europe 600 is up 0.4% However its worst performers include the French chip manufacturer Soitec, which is down by about 7%.Mortgage rates in the UK have risen this morning.The average 2-year fixed residential mortgage rate today is 5.62%. This is up from 5.60% the previous working day.The average 5-year fixed residential mortgage rate today is 5.64%. This is up from 5.61% the previous working day.“When Santander follows Halifax within 24 hours, that’s not a coincidence, that’s a signal. The two biggest high street lenders repricing on the same day tells borrowers everything they need to know about where the market is heading in the short term.“The pattern is familiar: one major lender moves, others follow within days. Anyone waiting to see how things settle is usually the last one through the door before rates climb again. Continue reading...
admin
Rolling coverage of the latest economic and financial news
European stock markets have largely avoided the chip sell-off seen in Asia and the US – the Stoxx Europe 600 is up 0.4% However its worst performers include the French chip manufacturer Soitec, which is down by about 7%.
Mortgage rates in the UK have risen this morning.
The average 2-year fixed residential mortgage rate today is 5.62%. This is up from 5.60% the previous working day.
The average 5-year fixed residential mortgage rate today is 5.64%. This is up from 5.61% the previous working day.
“When Santander follows Halifax within 24 hours, that’s not a coincidence, that’s a signal. The two biggest high street lenders repricing on the same day tells borrowers everything they need to know about where the market is heading in the short term.
“The pattern is familiar: one major lender moves, others follow within days. Anyone waiting to see how things settle is usually the last one through the door before rates climb again.
Continue reading...
