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Transcripts For CNBC Squawk Box Europe 20161102

The fed meeting today. Investors are looking for any change in the statement suggesting they are acting and ready to fire with that next rate hike in december. A whole bunch of other elements into the mix. The reflation trend, equities are being impacted. The italian referendum later this year. So the stoxx 600 running half of a percent lower. You can see how negative is sentiment is. Every sector the trading weaker. Food and drink better end of the scale but banks tracking whacker by 1. 25 . This is a sector that has grown very aggressively in the past few weeks on the trading window. Investors are saying did we get it wrong in terms of not looking at this sector in recent times . The gains we saw in october very strong. Investors lightening up on risk. Thats why the Banking Sector is one of the worst performers. Autos another cyclical down by 1 . If you look at the gains in october thats a sector where you saw some activity. Lig ....

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