European markets are expected to open sharply lower on Thursday, with global stocks lower after the Federal Reserve said yesterday that it would not cut interest rates in the near future.
British FTSE 100 German stocks are expected to open 84 points lower at 8,105 German DAX Index France fell 265 points to 19,993 CAC Down 105 points to 7,284 points, Italy FTSE MIB It fell 507 points to 33,876, according to IG data.
Europe is expected to open lower following a sell-off on Wall Street on Wednesday after the Federal Reserve cut overnight borrowing rates by 10%. 25 basis points, with a target range of 4.25% to 4.5%suggesting there may be only two rate cuts in 2025, instead of the four previously forecast.
“We’ve gotten to this point very quickly, but I think our progress will obviously slow down as we look forward,” Fed Chairman Jerome Powell said at a post-meeting press conference.
Comment tips panic on wall streetand US stocks plummet As bull market sentiment takes a hit. overnight, Asia Pacific market Currencies also fell.
More action will be taken by the European Central Bank on Thursday, with monetary policy decisions from the Bank of England and Norges Bank.
Investors will also be closely watching European new passenger car registration data, German Gfk consumer confidence data and Spanish trade data to gauge the health of the region’s economy.
—CNBC’s Jeff Cox contributed to this market report
