US inflation hits 4.2% in May as Trump’s Middle East conflict drives up prices - business live

US inflation hits a three-year high in May

European stock markets are taking a more decisive turn downwards now – the UK’s FTSE 100 has fallen 0.5%. The German Dax is down 0.6% and the French Cac 40 is down 0.3%.

The Europe Stoxx 600 is down 0.4%.