The pan-European STOXX 600 index closed down 0.6 per cent, with mining stocks ranking among the biggest percentage losers as raw material prices retreated. — Reuters pic
Local stocks also lagged their peers in the United States, with Wall Street indexes touching new highs after the Fed announcement. European shares are yet to recover entirely from lows hit during the pandemic, unlike Wall Street. “The Fed's new language gives them the flexibility to let the economy run a little hotter before contemplating raising interest rates and gives the green light to more modest yield curve steepening and dollar weakness,” economists at ING wrote in a note.
Recent data has also suggested that an economic recovery in the bloc may be stalling after jumping sharply from pandemic-driven lows.
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