European Shares Dip as Chinese Trade Data Disappoints, Lira Plunges to Record Low

European Shares Dip as Chinese Trade Data Disappoints, Lira Plunges to Record Low
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, on May 26, 2023. Staff/Reuters
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LONDON—European stock markets dipped on Wednesday and the U.S. dollar nudged higher as weak Chinese trade data had investors fretting about softening global demand, with attention turning towards next week’s pivotal inflation data and Federal Reserve meeting.

Meanwhile, Turkey’s lira plunged to a record low against the greenback as authorities appeared to loosen stabilising measures after the government signalled a pivot to more orthodox policies.