06:41 AM EST, 12/20/2024 (MT Newswires) -- European markets were down midday Friday, joining other bourses globally as they brace for the Fed's preferred inflation gauge.

November data on Personal Income and Outlays in the US will be released at 8:30 am ET.

In other regional news, Britain's retail sales edged up 0.2% month over month in November, reversing the 0.7% decline in October, according to data from the Office for National Statistics.

Data from the Office for National Statistics also showed that public sector net borrowing in the UK stood at 11.25 billion pounds sterling in November, down from the revised 18.22 billion pounds in October.

Italy's business confidence index rose to 95.3 points in December from 93.2 points in November, according to data from the statistical office Istat published.

In Switzerland, the Swiss National Bank said the country's current account surplus tumbled to 6.28 billion francs in Q3 from the revised 18.33 billion francs in Q2.

The pan-continental Stoxx Europe 600 Index was down almost 2%.

The Stoxx Europe 600 Oil and Gas Index fell by 1.4% and the Stoxx 600 Europe Food and Beverage Index declined by 0.9%.

The REITE, a European REIT index, rose by 0.2%, while the Stoxx Europe 600 Retail Index was 1.5% lower.

On the national market indexes, Germany's DAX was down 1.2%, and the FTSE 100 in London was almost 1% lower. The CAC 40 in Paris fell by 1% and Spain's IBEX 35 lost 0.6%.

Yields on benchmark 10-year German bonds were slightly lower at 2.3%. Front-month North Sea Brent crude-oil futures were down 1.1% to $72.10 per barrel.

The Euro Stoxx 50 volatility index was up 14.2% to 21.27. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.