European stocks dip as US rate worries resurface

European stocks slipped on Friday after U.S. inflation data fuelled concerns about interest rates staying higher for longer, while weak inflation data from China added to jitters about the global economy.

The pan-European STOXX 600 index was down 0.2% by 0704 GMT. Miners and oil & gas were among the few gainers as prices of commodities including oil and copper rose. [O/R] [MET/L]

Wall Street’s main indexes closed lower on Thursday after data showed consumer prices rose more than anticipated in September, boosting chances of the Federal Reserve delivering another rate hike this year.

Asian stocks also slid as data from China pointed to persistent deflationary pressures in the world’s second-largest economy. [MKTS/GLOB]

Investors are awaiting inflation data from several euro zone economies and U.S. bank earnings later in the day.

Among individual stocks, Sartorius AG fell 7.2% after the Franco-German lab supplies maker lowered its full-year forecast for sales and adjusted earnings margin on the back of lower volume expectations and product mix effects.

Swiss Re climbed 1.0% after Berenberg upgraded the reinsurer’s stock to “buy” from “hold”.

European stocks dip as US rate worries resurface