European markets dipped on Wednesday as investors considered key data and looked to the Federal Reserve interest rate decision.
LONDON — European markets dipped on Wednesday as investors considered key data from the region and looked to the U.S. Federal Reserve interest rate decision.index was down 0.17% at 8:33 a.m. London time, with regional bourses and sectors mostly pulling back. Mining and tech stocks were last both down by 0.66%.for August were published Wednesday, coming in at 2.2% according to data from the Office for National Statistics. That was unchanged from July and in line with expectations.
The Fed is all but guaranteed to announce an interest rate cut on Wednesday, which would be its first since it started hiking rates in March 2022. Traders are however split about the magnitude of the cut. Chances of a 50-basis-point reduction have been rising in recent days and last stood at 65% according to CME Group'sSouth Philadelphia
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