05.11.202506:30:42UTC+00European Markets Set to Extend Losses

European equity markets were set to open on a downward trend on Wednesday, continuing a series of recent declines. This downturn comes amid a global sell-off driven by growing concerns over whether market valuations are overly inflated. Investor sentiment was further dampened following warnings from leading CEOs of Wall Street banks regarding a substantial market correction likely within the next two years. Additionally, uncertainty surrounding future US interest rate cuts led traders to moderate their expectations for a potential reduction in December. Market participants are also expected to focus on final Purchasing Managers' Index (PMI) data across Europe, as well as economic indicators such as German factory orders, French industrial production, and Italian retail sales figures, to gain further insights into the region's economic trajectory. On the corporate earnings front, reports are anticipated from Siemens Healthineers, BMW, and Fresenius, among others. In premarket trading, futures for the Euro Stoxx 50 and Stoxx 600 were down by 0.6% and 0.5%, respectively.