Markets in Europe are expected to open on a weak note on Wednesday as investors weigh the less-than-expected drop in inflation in the U.S. and the fears of a potentially painful and prolonged recession. Hawkish comments from Fed and ECB officials could also weigh on market sentiment.
Mixed mood had prevailed in Wall Street on Tuesday after inflation in January cooled less than expected. Annual inflation in the U.S. dropped to 6.4 percent in January versus 6.5 percent in December and expectations of 6.2 percent. Core inflation dropped to 5.6 percent in January versus 5.7 percent in December and expectations of 5.5 percent. The Nasdaq Composite added 0.57 percent to close at 11,960.14 whereas the Dow Jones Industrial Average shed 0.46 percent to finish trading at 34,089.27.
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