Global Markets React to Anticipated US Inflation Data

European stocks and US equity futures fell as investors await US inflation data to gauge the timing of potential interest rate cuts by the Federal Reserve. The Stoxx Europe 600 index dropped 0.5% at the open, with basic resources leading declines after iron ore slumped 5% on slackening demand from China. Meanwhile, a gauge of the dollar is on track for a seventh day of losses, its longest losing streak in almost four years, as the Japanese yen extended its rise on expectations the Bank of Japan is about to start lifting interest rates. Tuesday’s US consumer price index figures will dominate the economic data reports this week, with a stronger-than-anticipated jump in consumer prices potentially derailing the stocks rally.