European stocks rebound from worst day in 2021, as U.S. futures remain negative

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Stocks in Europe inched higher on Wednesday, rebounding slightly from the worst trading day of 2021 as U.S. stock market futures remain set to open lower.

Stocks in Europe inched higher on Wednesday, rebounding from the worst trading day of 2021 as U.S. stock market futures remain set to open lower.

A 1.97% decline on Tuesday marked the worst day for the Stoxx 600 index since Dec. 21, 2020, snapping a two-day winning streak including a fresh record high reached on Monday as 562 of its 600 components slid into the red. Poor trading in Europe on Tuesday followed a technology stock-led selloff in the U.S. on Monday amid rising concerns about U.S. inflation, with U.S. equities also finishing Tuesday in the red.

“Consumer price inflation in every economy is telling us about the oil price a year ago,” said Paul Donovan, the chief economist at UBS Global Wealth Management. “This is not a concern, but markets want to worry about something.”

 

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