European stocks opened lower on Wednesday after Federal Reserve Chair Jerome Powell in a speech last night said that equity prices are fairly highly valued by many measures.
The pan-European Stoxx 600 dipped 0.3 percent to 553.48 after rising 0.3 percent on Tuesday on Fed rate cut expectations.
The German DAX was marginally lower as a survey showed German business sentiment fell to a four-month low in September.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.