Stocks bounce after sinking on US rate hike fears

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New York (AFP) – American and European equities rebounded Monday after sinking last week on renewed fear of more aggressive US interest rate hikes, dealers said. London gained 0.7 percent, while Frankfurt climbed 1.1 percent and Paris stocks won 1.5 percent. On Wall Street, all three major indices ended higher, with the Dow Jones Industrial Average adding 0.2 percent while the tech-heavy Nasdaq Composite Index gained 0.6 percent. Oil prices fell Monday on concern over the demand outlook in top energy consumer the United States. “Investors shrugged off the inflation and interest rate concerns w…

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