European Stocks React to U.S. Inflation Data

European stocks face challenges as investors await U.S. inflation data, with Adidas and Puma leading the declines. Prosus and Ubisoft shares plummet due to draft regulations in China. Nike premarket shares drop by over 10%, while oil prices rise on trade disruption fears. The U.K. economy contracts, and Israel's Prime Minister considers a plan for a revamped Palestinian Authority. The Biden administration explores raising tariffs on Chinese EVs to support the U.S. clean-energy industry.