[size=36]European shares fell before the US Federal Reserve's benchmark[/size]
fell European stocks in early trading on Wednesday before testimony by Jerome Powell , chairman of the Federal Reserve ( the US central bank) over two days , investors closely global audience for clues on interest rate cuts later this month.
Powell is scheduled to give his semi-annual policy brief to Congress at 1400 GMT, and investors believe that a worrying drop in global inflation is one of the reasons why Powell is making a propitious move.
The Stoxx 600 European index fell 0.2 percent and was heading to continue losses for the fourth session, while the Spanish index Ibex performance without all other stock indexes fell 0.4 percent.
Shares with exposure to Mexico led losses in Madrid as shares of BPVA, Iberdrola and Telefonica plunged between 0.6 percent and 0.8 percent after Mexican Finance Minister Carlos Ursua's surprise resignation on Tuesday, disrupting Mexican markets. W