European markets slip ahead of US inflation data
European stocks fell at the open on Friday with investors cautious that US economic data would stiffen central banks’ resolve to fight inflation with more interest rate rises.
Europe’s regional Stoxx 600 share index opened 0.7 per cent lower, with London’s FTSE 100 down 1.5 per cent and Germany’s Xetra Dax off 1 per cent.
That followed another tough session overnight on Wall Street, when the benchmark S&P 500 fell 2.4 per cent. It also puts global stocks on course for their worst week in a month. The FTSE All World index of developed and emerging market shares has fallen 2 per cent over the week, and dropped for nine of the last 10 weeks.
Investors traded warily ahead of the publication of US consumer price data on Friday, which will inform the Federal Reserve at its policy-setting meeting next week. Economists expect Friday’s data to show the annual pace of US inflation held at above 8 per cent in May, around a…
