European stocks are expected to open lower as investors worry about Fed independence and await Nvidia earnings. Asian markets fell after Trump removed Lisa Cook from the Fed’s board, citing false statements on mortgage applications. The dollar and Treasuries slipped ahead of key U.S. economic data. Richmond Fed Manufacturing Index and Case-Shiller Home Price Index are due today. Analysts predict consumer price inflation to remain high in July. Gold edged up while oil prices dipped. U.S. stocks fell, with Dow down 0.8%, S&P 500 down 0.4%, and Nasdaq down 0.2%. European stocks closed lower on Monday.

The European economic calendar is light, with French consumer sentiment data expected to rise in August.

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