European markets retreated slightly on Monday as investors looked ahead to the last U.S. Federal Reserve meeting of 2022 this week, as well as the latest inflation reading.
The pan-European Stoxx 600 was down 0.4% by mid-morning, with retail stocks shedding 1.4% to lead losses as all sectors and major bourses opened in negative territory.
The Fed will begin its two-day meeting on Tuesday and economists widely expect the U.S. central bank to raise rates by half a percentage point when the meeting concludes Wednesday.
The latest reading for the U.S. consumer price index is also slated for Tuesday. Analysts polled by Reuters expect the index rose 0.3% in November.