European markets saw a decline on Wednesday morning as investors processed the latest U.S. inflation report and U.K. gross domestic product figures. The benchmark Stoxx 600 index initially opened with a slight increase but later experienced a 0.24% loss. Retail stocks showed a 2.5% increase, while health care stocks dipped by 0.56%.
Following the release of the U.S. inflation figures for February, which reported a 0.4% increase for the month and a 3.2% increase from the previous year, European regional markets had seen gains on Tuesday. The figures were in line with economists’ monthly predictions but slightly exceeded the expected annual figure of 3.1% as per the Dow Jones consensus.
In response to the positive U.S. stock market movements, the S&P 500 and Nasdaq Composite both recorded gains of over 1%. U.S. stock futures remained stable on Tuesday evening following the upward trend on Wall Street. Overnight, Asia-Pacific markets displayed mixed performances.
Source (CNBC)
