European stocks fall as investors await US inflation data

European stocks opened lower on Tuesday, reversing gains from the previous session, as investors prepared for the release of the highly anticipated US inflation report this week.

The pan-European STOXX 600 index fell 0.2% shortly after the session began.

Basic resources stocks led the losses, falling 1.2% in early trade, weighed down by weaker-than-expected Chinese import and export data.

Traders are awaiting US consumer price index data on Wednesday, which is expected to influence the Federal Reserve’s interest rate decisions at its December 17-18 meeting. Consumer prices are expected to rise 0.3% in November and 2.7% on an annual basis, according to a Dow Jones survey.