European stocks are likely to open higher on Wednesday after Wall Street stocks bounced back from an early slide to end on a mixed note overnight, thanks to a recovery in technology stocks.
Asian markets were broadly lower as fears of an economic downturn deepened. Fresh COVID-19 outbreaks in China put millions under lockdown in major tourist cities, adding to uncertainty on growth prospects.
Oil prices rose over 1 percent in Asian trading after plunging 8 percent to drift below $100 a barrel for the first time since May on Tuesday amid fears that a recession will hit global demand for fuel.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.