Shares were lower in Europe on Tuesday after a mixed session in Asia following a reprieve on Wall Street from selling pressure driven by worries over inflation and interest rates.
“As we move into ‘Turnaround Tuesday,’ investors are debating whether January’s inflation reflation was just another temporary bump in the road as the economy adjusts to a post-pandemic world,” Stephen Innes of SPI Asset Management said in a report. “The post-pandemic era continues to deliver unusual macroeconomic patterns.”
Hong Kong's Hang Seng shed 0.8% to 19,785.94, while the Shanghai Composite index surged 0.7% to 3,279.61. Australia's S&P/ASX 200 rose 0.5% to 7,258.40.Stocks have struggled in February after a strong start to the year. Robust economic data help calm fears that amay be imminent given the dampening impact of more costly borrowing on spending by consumers and businesses.
On Monday, the S&P 500 rose 0.3% and the Dow industrials gained 0.2%. The Nasdaq composite climbed 0.6%.
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