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.