Shares in the Asia-Pacific region were mixed on Thursday, following losses on Wall Street overnight.

European markets retreated on Thursday, tracking weaker global sentiment as investors gauge the economic outlook. This is a topic that is high on the agenda at the World Economic Forum in Davos this week.

The consumer price index revealed that the most significant drops, in terms of percentage, were seen in consumer electronics, beef, and cars and trucks.In 2022, there were certain goods that experienced a decrease in value.

The Stoxx 600 index, which covers Europe, had risen by 0.4% by midday, with basic resources stocks increasing by 1.6% to be the top performers. Meanwhile, food and beverage stocks dropped by 0.7%.‍

According to a survey released Wednesday by Credit Karma, roughly 30% of Americans say they will rely on their tax refund to make ends meet. This figure is even higher for Gen Zers and millennials, with 40% and 46% of respondents in these groups saying they will depend on the payment.

European markets closed at their highest level in nearly four years on Thursday, despite a choppy afternoon following the release of U.S. inflation data.The Stoxx 600 index closed higher by 0.7%, with most sectors and major bourses in positive territory. This was a pan-European index, so it includes many different countries.

This provides another hopeful sign that price pressures are continuing to ease from their highest level in decades.Inflation ended the year at 6.5% according to the consumer price index, the U.S. Bureau of Labor Statistics said Thursday. This was in line with what economists had predicted.