European stocks look set to extend losses on Wednesday amid concerns that higher interest rates will result in a slower economic recovery.
The U.S. dollar held steady and U.S. Treasury yields hit fresh two-year highs as investors awaited the Federal Reserve's Jan. 25-26 meeting for more signals on the rate hike timeline.
Markets now position for four or five rate hikes this year should inflation remain elevated.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.