European markets lower as positive momentum fades

This is CNBC's live blog covering European markets.

European markets were lower Tuesday, reversing more positive sentiment seen at the start of the week.

The Stoxx 600 index was down 0.36% at 10 a.m. London time. All sectors were initially in the red before health-care stocks ticked up by 0.1%, with AstraZeneca shares nudging 0.6% higher after the pharmaceutical giant announced plans to nearly double revenue by 2030.

Banks led losses, down 0.9%.

Data has been in relatively short supply this week, but investors are gearing up for the release of minutes from the Federal Reserve's latest meeting on Wednesday, along with a U.K. inflation print expected to show a sharp fall in the headline rate.

Asia-Pacific markets largely fell overnight after tech shares pushed the Nasdaq Composite to record highs Monday.

The index was boosted by Nvidia, which rallied 2.5% as investors geared up for the artificial intelligence titan's Wednesday earnings report. The broad S&P 500 inched up nearly 0.1%. U.S. stock futures were near flat Monday night.

U.K. inflation could be about to hit a "momentous" milestone, with some forecasting that a sharp fall in the April print released Wednesday will take the headline rate below the Bank of England's 2% target.

That would represent a plunge from the current level of 3.2% and could "make or break" a June interest rate cut, economists say.

A reading below 2% on Wednesday would be the lowest headline inflation rate since April 2021.

The decline will largely be driven by the energy market, but the readings on core and services inflation will also be crucial for determining the BOE's path.

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— Jenni Reid

AstraZeneca shares were 0.6% higher at 9:45 a.m. in London, after the company said it plans