Stocks in Europe are set to open lower Wednesday morning with global sentiment curbed by a sharp reversal for equities on Wall Street in the previous session.
Asian markets were trading lower after Wall Street reversed from record highs on Tuesday. The Dow hit the 26,000 benchmark — a few days after breaking the 25,000 line. However, it also recorded its biggest one-day reversal in nearly a year.
Meanwhile, investors in Europe will watch out for further earnings reports. Burberry and Zalando are among the companies reporting and Carrefour and VW will release sales data. Later in the day, Goldman Sachs and Bank of America will also publish their latest results in the U.S.
On Tuesday, the Swiss food group Nestle agreed to sell its U.S. business to Ferrero for $2.8 billion
In terms of data, there will be inflation numbers out in the euro zone at 10 a.m. London time and the U.S. Federal Reserve Beige Book will be released at 7 p.m. London time.
Meanwhile, Jens Weidmann, the German representative to the European Central Bank said in an interview published Wednesday that it would be “appropriate” to stop bond purchases, the newspaper Frankfurter Allgemeine Zeitung reported.
European stocks set to open lower ahead of earnings and inflation data