The German DAX extended losses from earlier in the session on Wednesday and the FTSE 100 turned negative after data showed that inflation in the United Kingdom increased 0.7% in January and the number of car registrations in Europe dropped by 24% in the same month as the coronavirus pandemic continues to impact economies.

The DAX lost 0.68% at 11:08 am CET as Beiersdorf dropped 6.02% at the same time after announcing it doesn't expect a return to profitability this year. The FTSE 100 was down 0.32% at 11:11 am CET, with Hargreaves Lansdown plunging 6.94% at 10:57 am CET to lead the decline. Kering was the worst-performing stock of the CAC 40 as it plummeted 7.92% at 10:58 am CET. The French benchmark index was down 0.06% at 11:13 am CET.