Negative climate in the European markets after three days of rise

European stocks fell on Wednesday, following losses in Asia and the US as concerns about the risk of recession returned to the forefront.

Wall Street closed with heavy losses on Tuesday after data showed that consumer confidence fell to a 16-month low and two Fed officials said the central bank plans to continue aggressively raising interest rates to reduce inflation. .

The two officials, New York Fed Chairman John Williams and San Francisco Fed Chairman Mary Daly, stressed that reducing inflation was a key priority, while at the same time expressing optimism that the US economy could avoid a recession.

Investors, however, are now worried about the risk of a recession on both sides of the Atlantic as the Fed and the ECB tighten their policies to tackle the inflation rally.

On the board, the pan-European Stoxx 600 index lost 0.65% to 413.48 points after three consecutive uptrends.

The German DAX fell 0.8% to 13,131.51 points, the French CAC 40 lost 0.5% to 6,052.87 points, while the British FTSE 100 fell 0.4% to 7,290.93 points.

In the periphery, the Italian FTSE MIB lost 0.7%, while the Spanish IBEX 35 fell 0.75%.

Data released today in Spain showed a jump in inflation to 10.2% in June from 8.7% the previous month. This is the first time that inflation has exceeded 10% since April 1985, and the figures exceeded the estimate of analysts who put inflation at 9% in a Reuters poll.

Structural inflation excluding food and energy climbed to 5.5% from 4.9% last month, according to preliminary data from the Spanish statistics service.