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European stocks set to increase losses as inflation concerns continue

European stocks are set to widen losses on Wednesday as investors wait for inflation reports in the U.S., sale of government debt, and scheduled speech by Bank of England Governor Andrew Bailey on clues to the direction. is.

The US CPI report, scheduled for the second half of the day, is projected to show that prices continue to rise in April.

The US Treasury yields for more than a week have jumped to highs for more than a week, helping to raise the dollar and squeeze gold.

Oil traded flat after rising overnight as OPEC adhered to forecasts of a strong recovery in global oil demand in 2021.

Asian market Taiwan’s benchmark index fell by more than 4% to its lowest level in seven weeks amid diplomatic conflict with China and further suppression of Covid-19.

As India fights vicious seconds Coronavirus The World Health Organization (WHO) has stated that vaccines, treatments and diagnostics are “still effective” for the first confirmed B.1.617 variant of COVID-19 in India.

Quarterly national accounts and foreign trade from the UK are scheduled for later in the day, celebrating a bright day in European economic news.

US stocks fell overnight as positive data on job vacancies added to concerns about inflation.

The technology-intensive Nasdaq Composite fell 0.1% after plunging 2.2%, while the Dow fell 1.4% and the S & P 500 fell 0.9%.

European stocks fell sharply on Tuesday session, travel, retail, Technology Stocks among the worst hits.

The Pan-European Stocks 600 gave up 2 percent. Germany’s DAX fell 1.8%, France’s CAC 40 index fell 1.9%, while the UK’s FTSE 100 fell 2.5%.

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European stocks set to increase losses as inflation concerns continue

Source link European stocks set to increase losses as inflation concerns continue

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