European stocks are likely to open on a sluggish note Tuesday after Snapchat owner Snap Inc. issued a profit warning and announced plans to slow hiring and spending, reviving fears of recession and inflation hurting corporate earnings.
As worries of runaway inflation mount, investors now await a speech by Fed Chair Jerome Powell due later in the day and the latest FOMC minutes scheduled for Wednesday for further clues with regards to growth and the future of monetary tightening in the world's largest economy.
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