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European stocks are likely to open higher on Wednesday after Wall Street stocks bounced back from an early slide to end on a mixed note overnight, thanks to a recovery in technology<\/span> stocks. <\/p>\n Asian markets<\/span> were broadly lower as fears of an economic downturn deepened. Fresh COVID-19 outbreaks in China put millions under lockdown in major tourist cities, adding to uncertainty on growth prospects. <\/p>\n Oil prices rose over 1 percent in Asian trading after plunging 8 percent to drift below $100 a barrel for the first time since May on Tuesday amid fears that a recession will hit global demand for fuel.<\/p>\n Gold edged up from a near seven-month low hit in the previous session as the dollar rally paused and the two-year Treasury yield dropped below the 10-year yield amid optimism that inflation may have peaked.<\/p>\n Elsewhere, the pound held losses after the latest political turmoil. Boris Johnson’s premiership is on the brink after finance and health<\/span> ministers resigned in quick succession saying they could no longer tolerate the culture of scandals that have damaged his administration. <\/p>\n Factory orders data from Germany and retail sales figures from the eurozone are due later in the day, headlining a light day for the European economic news.<\/p>\n Across the Atlantic, investors await the minutes from the Fed’s June meeting for clues related to the upcoming rate hike path. <\/p>\n U.S. stocks ended mixed overnight as concerns about the state of the economy<\/span> offset signs of an easing in U.S.-China tensions.<\/p>\n The Dow slipped 0.4 percent while the S&P 500 edged up 0.2 percent and the tech-heavy Nasdaq Composite gained 1.8 percent.<\/p>\n European stocks nosedived on Tuesday as weak business<\/span> activity data, record high gas prices and signs of repeated mass testing in China reignited worries of a recession.<\/p>\n The pan European Stoxx 600 lost 2.1 percent. The German DAX and the U.K.’s FTSE 100 both plunged around 2.9 percent, while France’s CAC 40 index gave up 2.7 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n