European stock markets traded lower on Tuesday, tracking steep losses on Wall Street the prior day on concerns about further cuts to monetary stimulus in the U.S., the world’s largest economy.
The Stoxx Europe 600 index gave up 0.5% to 329.20.
The U.K.’s FTSE 100 index fell 0.4%, France’s CAC 40 index lost 0.5% and Germany’s DAX 30 index gave up 0.6%.
More broadly, European investors took a clue from the trading mood on Wall Street on Monday, when the Dow Jones Industrial Average suffered the worst one-day drop since Sep. 20.
Shares of Volkswagen AG dropped 2% after UBS cut the German car maker to sell from neutral.
Shares of Suedzucker AG fell 3.7%, pulling back after an 11% rally seen on Monday, when the sugar producer backed its fiscal-year outlook.
On a more upbeat note, shares of British Sky Broadcasting Group PLC picked up 3.6% after UBS lifted the cable-TV provider to buy from neutral.
Back in Europe, data showed industrial production in the euro zone rose at the fastest pace in three and a half years in November, beating economists’ expectations.
In the U.K., the Office for National Statistics said inflation fell to 2% in December, reaching the Bank of England’s target for the first time since November 2009.
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