Chipmaker stocks climb, sickly euro treads water

Gains in chipmakers lifted stocks to calm investors after hawkish Federal Reserve comments increased the likelihood of a hefty interest rate hike later this month and raised fears over how much this could slow the economy.

The euro struggled to avoid dipping below parity with the safe-haven dollar.

Sterling was up 0.45%, little changed after Britain's Prime Minister Boris Johnson resigned following a string of ministerial resignations. The pound plumbed 2-year lows on Wednesday amid mounting political uncertainties.

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