European stocks see volatility engulfing global markets

European stocks are expected to open higher on Tuesday as investors in the region appear to have cooled off volatility in global markets earlier in the week and concerns about Ukraine.

UK FTSE The index is seen opening 21 points higher at 7,328, in Germany DAX 79 points higher at 15,127, of France CAC 40 up 35 points at 6,842 and that of Italy FTSE MIB up 267 points at 26,137, according to data from IG.

The higher open for European stocks comes after they fell on Monday, following intense volatility on Wall Street. Investors are currently bracing for an update from the US Federal Reserve and remain focused on tensions between Ukraine and Russia.

The Federal Open Market Committee begins a two-day meeting on Tuesday, at which it will decide next steps for US monetary policy. A rate decision is scheduled for Wednesday at 2 p.m. ET.

Rising inflation is a major concern for the US central bank and Investors will listen closely to see how worried the Fed really is. Chairperson Jerome Powell was due to the media brief after the FOMC published its statement. The Fed is not expected to start raising interest rates, but the central bank is expected to stay on track towards tighter policy this year as it battles the highest inflation in decades.

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Markets are also worried that a military conflict between Ukraine and Russia is possible despite high-level talks aimed at averting an ongoing confrontation.

President Joe Biden speaks to European leaders on Monday afternoon as the US considers deploying troops and equipment to the region amid the rapidly deteriorating security situation at Ukraine’s border with Russia.

In the Asia-Pacific market overnightStocks in Japan and Hong Kong fell as much as 2% as regional markets plunged after a volatile session on Wall Street. US Stocks sold out earlier in Monday trading but ending a dramatic comeback as investors stepped in to buy beaten tech stocks. US stock index futures fell in early trading on Tuesday.

Income from Ericsson on Tuesday and data releases include Germany’s Ifo business climate data for January and UK business optimism figures from the Confederation of British Industry.

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– Weizhen Tan, Abigail Ng and Pippa Stevens of CNBC contributed to this report.

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