Negative sentiment is expected to prevail in stock markets in Europe on Tuesday morning amidst a tech-led plunge in Asian markets that spilled over from Wall Street. The progress in restoration of oil supplies through the Strait of Hormuz as well as a potential further decline in crude oil prices could however limit losses. Market spotlight would also be on the U.S.-Iran peace negotiations, political developments in the U.K. as well as the PMI data due from the region.
Wall Street had closed on a mixed note on Monday amidst positive sentiment generated by progress in oil supplies and losses in megacap tech stocks. The Dow Jones Industrial Average added 0.29 percent to finish trading at 51,712.71. The S&P 500 slipped 0.37 percent to finish trading at 7,472.79. The tech-heavy Nasdaq Composite lost 1.3 percent to close trading at 26,166.60. Loses in SpaceX as well as Alphabet weighed heavily on sentiment.
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