European markets traded lower on Wednesday morning as global market sentiment took a turn for the worse.
Pan-European Stoxx 600 index It fell 0.2% early in the trading session with the majority of sectors in negative territory.
the FTSE 100 index It rose 0.8% at the open after the latest UK data showed inflation fell sharply to 1.7% in September, according to the Office for National Statistics. The sharp decline from the 2.2% seen in August adds to expectations that the Bank of England will cut interest rates in November.
Looking at individual stocks, LVMH shares were down 6.3% at Wednesday's open, making it one of the worst-performing stocks on the Stoxx 600, after the luxury group reported a 3% decline in third-quarter sales. British hotel group Whitbread was the best performing stock, rising 3.7% after it raised its interim dividend and announced a share buyback program worth 100 million pounds ($129.95 million).
The lower opening seen by major European bourses follows falls on Wall Street on Tuesday, and comes as most Asia-Pacific markets traded lower overnight, with Japan's Nikkei leading the losses.
US stock futures were quiet Tuesday evening, as Wall Street looked to see if stocks could rebound to record levels this week. The S&P 500 and Dow Jones indices hit all-time highs on Monday. Earnings season continues, with Morgan Stanley scheduled to release its report later today.
shares ASML It will be closely watched on Wednesday after the Dutch chip company published its financial results a day early and issued a disappointing sales forecast.
