Economic news

European stocks slide as earnings fail to offset Wall Street's decline

European stocks edged down in early trading on Wednesday as an inflow of fresh corporate numbers failed to shift the negative trend set by a plunging markets in the the U.S. overnight on signals that U.S. interest rates could increase more quickly than anticipated.

The Stoxx Europe 600 index lost 0.3% to 381.34.

Frankfurt’s DAX 30 index slipped 0.3% to 12,454.93, and France’s CAC 40 sank 0.3% at 5,327.88. The U.’s FTSE 100 slumped 0.3% to 7,262.1.

The decline came after new Fed Chair Jerome Powell told to U.S. Congress that the U.S. economic forecast has firmed since December. Investors assessed that statement as a sign the central bank could increase interest rates four times in 2018, instead of three times, as it has previously thought.

France's GDP increased 2% in 2017 from 2016, instead of 1.9% reported earlier. French Consumer Price Index in February slipped 0.1% on month and jumped 1.2% on an annualized basis.


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