This Is What Just Took European Markets Even Lower

European markets were up in the very early going, but they have now turned red across the board.

Most of them seem to be down around in the 0.5% range.

A culprit: Fresh inflation data from Eurostat that shows inflation is still running hotter than expected.

Per Eurostat, April inflation was 2.6% (.pdf), a bit higher than the 2.5% expected.

But given the famously inflation-minded ECB, this marginally pushes against rate cuts, and so it’s bad for markets.

What’s going on in Italy is especially cruel. Check this out.

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