European stocks closed higher on Wednesday despite global markets being rattled by comments from the head of the U.S. Federal Reserve.
European markets
The regional Stoxx 600 index provisionally ended 0.2% higher, with the majority of sectors trading in the green. Household goods jumped 1.8%, while tech fell 2.6%.
Shares of luxury group LVMH climbed as much as 5.2% after the company posted modest first quarter sales growth, before paring gains. The stock provisionally ended 3.2% higher.
Fresh data showed U.K. inflation eased to 3.2% in March, slightly less than economists expected, as investors keep an eye out for signs of when the Bank of England may cut rates.
Fed Chair Jerome Powell said Tuesday that the central bank needs to see more progress on the inflation front before it's likely to begin cutting rates. He said there had been "a lack of further progress so far this year on returning to our 2% inflation goal."
Asia-Pacific markets were mixed after Tuesday's broad selloff, while U.S. stocks were mixed on Wednesday after the S&P 500 notched its third straight day of losses.