European shares fall on jitters ahead of U.S. CPI data

By Amruta Khandekar (Reuters) -European shares fell on Wednesday as gains in Credit Agricole after the bank’s upbeat earnings were more than offset by market jitters ahead of U.S. inflation data that is likely to shape expectations for rate cuts in the World’s largest economy. The pan-European STOXX 600 index reversed early gains and was down 0.4% by 0808 GMT. The U.S. inflation data, due at 8:30 am ET (1230 GMT), is expected to show that headline consumer prices maintained a 5% year-on-year growth rate in April, while they rose 0.4% on a monthly basis, compared with a 0.1% gain in March. The …

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