European Stocks Are Falling After Reaching Unprecedented High Levels

European shares fell today after hitting unprecedented high levels earlier in the week, as investors’ eyes are turning to US and European economic data to derive indications about the direction of monetary policy in the future.

The pan-European Stoxx 600 index fell 0.1%, in line with the cautious moves of Asian stocks.

The closely watched US jobs data on Friday will give more indications of the pace of recovery in the world’s largest economies, as well as indications of a rise in inflation at a time when investors are concerned about an early tightening of monetary policy.

In the eurozone, the final reading of the IHS Markit index of service sector activity in May is due later today.