Stocks fall as ECB signals intention to turn off money taps

ECB plans to stop pumping money into markets this summer, paving the way for an interest rates increase

ECB president Christine Lagarde said Russia's attack on Ukraine is 'a watershed for Europe'  that will  curb growth but boost inflation. File picture

European stocks fell after the ECB surprised markets by accelerating its exit from pandemic-related stimulus.

The ECB said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia’s invasion of Ukraine.