European markets are expected to open broadly lower Wednesday as traders assessed the region’s economic outlook.

The U.K.’s FTSE 100 index is expected to open 4 points lower at 8,242, Germany’s DAX down 40 points at 20,308, France’s CAC down 22 points at 7,477 and Italy’s FTSE MIB down 83 points at 34,922, according to data from IG.

Traders will be keeping an eye on European consumer confidence and economic sentiment data. On the earnings front, Shell is set to release its fourth-quarter update.

Asia-Pacific markets traded mixed Wednesday while U.S. stock futures ticked higher. The move comes after a sharp decline in Big Tech stocks and renewed fears over the path of rate cuts spurred a sell-off on Wall Street on Tuesday.

European markets closed higher on Tuesday as investors in the region digested the latest inflation data that showed consumer prices in the euro zone rose to 2.4% in December, up from 2.2% in November.

The print — which was in line with expectations, according to a Reuters poll of economists — was lifted by high services costs and rising energy prices.