A market stall in the Kingston district of London in 2024.
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LONDON — European markets were lower on Wednesday as investors weighed key data from the region and watched the U.S. Federal Reserve’s interest rate decision.
The pan-European Stoxx 600 index was down 0.34% at 11:04 a.m. London time, with regional bourses and sectors mostly down. Technology stocks were last down 0.62%, while healthcare stocks were down 0.66%.
The Stoxx 600 index closed higher on Tuesday.
In Europe, UK inflation figures for August were released on Wednesday, with the Office for National Statistics showing it was 2.2%, the same as in July and in line with expectations.
The data comes ahead of a Bank of England meeting and interest rate policy decision scheduled for later this week. It’s a busy week for central banks, with the Bank of Japan and the U.S. Federal Reserve also scheduled to meet.
The Fed is virtually certain to cut rates on Wednesday, its first rate cut since it raised rates in March 2022.
But traders are divided on the size of the cut. In recent days, the odds of a 50 basis point cut have been rising, and last seen at 65%, according to CME Group’s FedWatch tool.
U.S. stock futures were little changed ahead of the Fed’s decision. Asia-Pacific markets were mixed on Wednesday.
In Europe, final eurozone inflation figures for August are due to be released.
