Last Wednesday, the minutes from the Federal Reserve’s meeting in July were released.

UK inflation hit 10.4%, a fresh 40-year high, it was a sizeable increase on the 9.4% posted in June and it topped forecasts of 9.8%.

Worries about rising interest rates and inflationary pressures are hitting stocks.

Stock markets in Europe bounced back today as last night’s Fed minutes contained some dovish nuggets.