European stocks fell slightly as investors played with the boom
European stocks fell slightly this Wednesday morning, despite a slight slowdown in US inflation. However, China’s economic data again raised questions about the evolution of the world’s second largest economy, and fears spread in the stock market.
The Stokes 600, the index of the 600 largest companies in the region, is down 0.16% at 166.88 points. Among the companies, the highlight goes to Zara’s owner, Inditex, which was able to return to the pre-epidemic stage, becoming the first major company in the industry.
In the United States, the consumer price index fell to 5.3% in August, the highest level since 2008 (5.4%) in the previous month. Nevertheless, this is the fourth month that inflation has crossed the 5% barrier.
However, the slip was so small that it should not have affected the decision of the US Federal Reserve to withdraw the cash stimulus that should have taken place even this year.
In China, data released on Wednesday showed a slowdown in retail sales, which is still high year-on-year (2.5%), but far lower than economists expected (7%). Industrial production also disappointed with a 5.3% increase over the expected 5.8%.
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