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European stocks extend losses while euro rallies after ECB doesn’t cut interest rates

European stocks
SXXP,
-7.07%

extended already sharp losses while the euro
EURUSD,
-0.33%

zoomed higher after the European Central Bank opted not to cut interest rates. The ECB did take steps to support bank lending to small- and medium-sized enterprises as well as provide liquidity support to the banking system, though it said it hadn’t seen any material strains.

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