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(RTTNews) – European stocks may open slightly lower on Thursday. as traders shift their attention to the U.S. consumer inflation report due later in the day that could show some moderation from a peak set during the summer.
Asian markets traded mostly lower, with Japanese and Hong Kong stocks leading regional losses.
The dollar recovered from recent losses amid a major sell-off in the crypto market and uncertainty about which political party will gain control of U.S. Congress following the midterm elections.
U.S. Republicans inched closer to a narrow House majority while control of the Senate hinged on a few tight races that could take days, if not weeks, to determine.
Gold traded a tad higher, while oil prices eased for the fourth straight session on bearish inventory data and China demand concerns.
U.S. stocks tumbled overnight after rising for three straight sessions. There was uncertainty around the outcome of a tightly contested election as the GOP’s midterm ‘red wave’ failed to materialize.
The Dow lost 2 percent, the tech-heavy Nasdaq Composite plunged 2.5 percent and the S&P 500 plummeted 2.1 percent.
European stocks slipped for the first time in four days Wednesday amid U.S. political uncertainty and concerns over a resurgence of coronavirus outbreaks in China.
The pan European STOXX 600 eased 0.3 percent. The German DAX and France’s CAC 40 index both dipped around 0.2 percent while the U.K.’s FTSE 100 slid 0.1 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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