(Bloomberg) — A semblance of calm returned to markets on Wednesday as the focus turned to corporate earnings after hawkish comments from Federal Reserve Chair Jerome Powell drove the dollar and Treasury yields to five-month highs.
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The Stoxx Europe 600 index swung between small gains and losses amid mixed reports from some of the region’s biggest companies. London’s benchmark underperformed, the pound gained and gilts fell after UK inflation slowed less than estimates. US equity futures edged lower after the S&P 500 clocked a third day of losses on Monday. The MSCI Asia Pacific Index came close to erasing its gains for the year.
Technology stocks led declines in Europe, with ASML Holding NV plunging more than 6% after missing estimates for first-quarter orders. Adidas AG climbed more than 4% after raising its revenue and profit outlook, while LVMH led the…
