European stocks rebound from 3-week low as US bond rally pauses

European stocks rose more than 1% on Tuesday, rebounding from a 3-week low, thanks to positive sentiment as the US bond yield's rally stopped, ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress..

The Stoxx Europe 600 index rose over 1% as of 11:47 GMT, after closing lower by 1.5% yesterday, and hit a 3-week low at 477.90 points.

The tech sector saw the largest gains in Europe today, with a rise of over 2%, after the US Treasury bond yields fell.

The 10-year Treasury bonds yield fell today by more than 1.0%, in a pullback from the 2-year high of 1.808% hit yesterday.

At 15:00 GMT, Federal Reserve Chairman Jerome Powell will testify before the Senate Banking Committee.

S&P 500 futures rose more than 0.5% today ahead of Wall Street's opening, after the index closed lower by 0.1% yesterday, and hit a 3-week low at 4582.24 points.

Back to Europe, the Euro Stoxx 50 index rose 1.1%, France's CAC 40 rose 1.4%, Germany's DAX rose 1.2%, and the UK's FTSE 100 rose 0.7%.