Market trading after Wall Street selloff; UK closed

LONDON — European markets are set to start the month of May on a weaker footing, with investors monitoring monetary policy, inflation data, and sharp moves on Wall Street.

The German DAX is set to fall 160 points on Monday to 13,916, while the French CAC could lose 73 points to 6,452. The U.K.’s FTSE 100 is closed for a public holiday and trading volumes are expected to be impacted.

German retail sales out Monday morning showed an unexpected fall in March. The Federal Statistics Office said sales were down 0.1% for the month in real terms.

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Meanwhile, global investors continue to monitor the war in Ukraine and its geopolitical implications. EU leaders are set to work on a Russian oil embargo this week. Over the weekend, the United Nations and the International Committee of the Red Cross began evacuating civilians from the besieged southern port city of Mariupol. That operation is set to continue on Monday.

On Wall Street, U.S. stock index futures were higher during overnight trading after the Nasdaq Composite Index posted its worst month since 2008, pressured by rising rates, rampant inflation, and underwhelming earnings from some of the largest technology companies.

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