European stocks subdued in cautious trade

European stocks are set to open lower on Wednesday, tracking losses in the U.S. and Asian markets, as downbeat corporate earnings updates from the likes of Goldman Sachs, Johnson & Johnson and IBM as well as the surprise news of a U.K. election added to escalating geopolitical tensions concerning North Korea.

Chinese shares led regional losses in Asia, the Japanese yen rose against the dollar and oil prices dipped on worries about bloated U.S. supplies, while the pound held steady near its strongest level this year ahead of a parliamentary vote today on holding a snap election in June.

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