Stocks, news, data and earnings

European markets were trading lower on Wednesday morning as global market sentiment deteriorated.

The pan-European Stoxx 600 index was down 0.2% at the start of the trading session, with most sectors in negative territory.

The FTSE 100 had initially risen 0.8% after the latest British data showed inflation fell sharply to 1.7% in September, according to the Office for National Statistics. The sharp decline from 2.2% in August reinforces expectations that the Bank of England will cut interest rates in November.

Looking at individual stocks, LVMH shares fell 6.3% at the open on Wednesday, putting them among the worst performers in the Stoxx 600 after the luxury group reported a 3% decline in third-quarter sales. The best performer was British hotel group Whitbread, which rose 3.7% after raising its interim dividend and announcing a £100 million ($129.95 million) share buyback program.

The lower opening price on Europe’s major bourses follows declines on Wall Street on Tuesday and comes as most Asia-Pacific markets traded lower overnight, with Japan’s Nikkei leading losses.

U.S. stock futures were quiet on Tuesday evening as Wall Street assessed whether stocks could rise back to record highs this week; The S&P 500 and the Dow hit all-time highs on Monday. Earnings season continues, with Morgan Stanley set to report later today.

Shares of ASML will be closely watched on Wednesday after the Dutch chip company reported its financial results a day early and gave disappointing sales forecasts.