SYDNEY/LONDON—Stocks slipped on Wednesday on negative news including a lack of new stimulus from Beijing, bearish British inflation data, and a further slump in European real estate, as markets await direction from Federal Reserve Chair Jerome Powell.
The world’s most powerful central banker faces lawmakers in two days of testimony and is sure to be questioned on whether rates will really rise again in July and peak in a 5.5 percent–5.75 percent range as projected.
