What do you believe is the single most important factor driving up the cost of living in Nigeria?

European markets opened lower Wednesday as global market sentiment took a turn for the worse.

The pan-European Stoxx 600 index opened 0.35% lower with the majority of sectors in negative territory.

The FTSE 100 was up 0.8% at the open after the latest U.K. data showed the inflation rate dropped sharply to 1.7% in September, according to the Office for National Statistics. The steep fall from the 2.2% print seen in August adds to expectations that the Bank of England will cut rates in November.

The lower open seen for Europe's major bourses follows declines on Wall Street Tuesday and comes as most Asia-Pacific markets traded lower overnight, with Japan's Nikkei leading losses.

U.S. stock futures were calm Tuesday evening as Wall Street looked to see whether equities can be rebound to record highs this week; the S&P 500 and Dow hit all-time highs Monday. The earnings season continues, with Morgan Stanley due to report later today.

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