European stock markets are likely to open negative on Tuesday tracking losses in Asian peers and overnight losses on Wall Street. Stronger-than-expected services activity data from the U.S. on Monday renewed fears of further tightening by the Fed, which eclipsed the positive sentiment generated by easing Covid curbs in China.
Renewed Fed jitters dragged the Wall Street lower on Monday, with the Nasdaq Composite shedding 1.9 percent to close at 11,239.94 and the Dow Jones Industrial Average dropping 1.4 percent to finish trading at 33,947.10.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.