Stocks slip in Europe, US ahead of Fed chair speech

NEW YORK: Stocks in the US and Europe turned lower Friday ahead of a speech by the Federal Reserve chair that could more shed light on the potential for more interest rate hikes, according to Reuters.

The DAX in Frankfurt fell 0.3 percent while the CAC 40 in Paris slipped 0.1 percent. The FTSE in London held onto a slight gain. Earlier, markets in Tokyo and Hong Kong advanced while Shanghai declined.

In the US, futures for all three major indexes declined, with the S&P 500 down 0.3 percent. The benchmark index gained 1.4 percent Thursday.