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The Latest: European markets solid as focus turns to Fed

A man looks at an electronic stock board showing Japan's Nikkei 225 in Tokyo, Wednesday, Feb. 10, 2016. Asian stock markets fell for a third consecutive day Wednesday, beset by nerves about shaky global growth, falling oil prices and possible capital shortfalls at major European banks. (AP Photo/Eugene Hoshiko) A man looks at an electronic stock board showing Japan's Nikkei 225 in Tokyo, Wednesday, Feb. 10, 2016. Asian stock markets fell for a third consecutive day Wednesday, beset by nerves about shaky global growth, falling oil prices and possible capital shortfalls at major European banks. (AP Photo/Eugene Hoshiko)

By Associated Press February 10, 2016 1 min read

LONDON (AP) – The latest on the turmoil afflicting global financial markets (all times local):

8:30 p.m.

Stock markets in Europe have opened on a fairly solid note despite another sizeable 2.3 percent reverse on Japan’s main index.

In early trading, the Stoxx 50 index of leading European shares was up 0.7 percent at 2,756. Investors will likely be nervous as a similarly steady opening on Tuesday soon turned sour and European markets had another big down day.

Much of the day’s trading may well hinge on what Janet Yellen, chair at the U.S. Federal Reserve, will tell lawmakers in testimony later Wednesday.

Much has changed since the Fed raised interest rates in December for the first time in nearly a decade. Confidence in the global economy has deteriorated while financial markets have been volatile – many stock markets around the world have officially hit bear market territory while oil prices have dropped to fresh multi-year lows.