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European markets open lower as sentiment struggles ahead of ECB meeting

·1 min

European stocks opened lower on Tuesday as markets struggled to find positive momentum ahead of the European Central Bank (ECB) meeting later in the week. The pan-European Stoxx 600 was down 0.2%, with most sectors trading in the red. Mining stocks saw a decline of 1%, while healthcare added 0.2%. The ECB is expected to keep interest rates steady despite signs of easing inflation. In Asia-Pacific markets, investors watched China’s “Two Sessions” meeting for details on its economic plans, including a projected GDP growth target of “around 5%” for 2024. China also plans to increase defense spending by 7.2% in 2024 and expects inflation to rise to “around 3%.” U.S. stock futures ticked lower following the Nasdaq Composite’s retreat from its record high.