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European markets lower after week of key data; Stoxx 600 down 0.7%

European markets were lower Friday as investors continue to assess the impact of inflation and production data from the U.S. and U.K. and company earnings.

The pan-European Stoxx 600 index was down 0.7%, with most sectors and major bourses trading in the red. Tech stocks led losses after dropping 1.6%, followed by oil and gas, which were down 1.5%. Construction and material stocks bucked the trend to trade 0.1% higher.

The Stoxx 600 closed slightly higher Thursday after a choppy session that saw France’s CAC 40 index hit an all-time intraday high.

In the U.S., wholesale prices rose 0.7% in January, which was more than expected and encouraged fears over the country’s stubbornly high inflation metrics. U.S. stock futures slipped Thursday night on the news.

Asia Pacific markets traded lower on Friday as investors digested more economic data out of the U.S. and more hawkish commentary from the Federal Reserve.

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