European stock markets lower at midweek open

By Tuba Sahin

ANKARA (AA) – European stock exchanges were lower at the opening bell on Wednesday as the hotter-than-expected US inflation data triggered global selloff with raising bets that the Federal Reserve will continue to aggressively increase interest rates.

US annual consumer inflation was recorded at 8.3% in August – higher than estimates of an 8.1% annual increase, the Labor Department said on Wednesday.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was flat at 421.14.

The UK's FTSE 100 index decreased 0.46%, or 34 points, to 7,351.90

Germany's DAX 30 was down by 0.39%, or 51 points, to 13,137.9 points.

France's CAC 40 fell marginally by 0.03%, or 2 points, to open the day at 6,243.7 points.

Italy's FTSE MIB declined 0.37%, or 82.8 points, to 22,221.

Spain's IBEX 35, on the other hand, rose slightly by 0.02% or 1.73 points to 8,065.7.