European markets dipped Thursday as global markets digested strong jobs data from the U.S. and hawkish Federal Reserve minutes.
European markets
After climbing to a three-week high over the last three sessions, the pan-European Stoxx 600 closed 0.15% lower provisionally.
Retail stocks led gains, gaining 2.3%, after British high street stores including Next reported stronger-than-expected sales for the final months of 2022. Chemicals and insurance stocks both dropped around 1.7%.
Figures over the last week have shown a slowdown in inflation in Germany, France, Spain and Italy, with a flash estimate for euro zone inflation due Friday. However, some analysts have warned it is too early to call peak inflation with energy and food prices remaining volatile.
Meanwhile, data published Thursday morning showed U.S. private payrolls rose by 235,000 in December, ahead of estimates — fueling investor fears that the Fed will stay in rate hiking mode.
In the U.S., the Dow Jones Industrial Average fell in morning trade.
On Wednesday, minutes from the central bank's last meeting in December were released, showing the central bank remained committed to higher interest rates for "some time."