European shares fell on Thursday, for the second session in a row, as most major sectors gave up earlier gains made following less aggressive comments from the Federal Reserve.
The European Stoxx 600 index closed down 0.7%, and the losses were led by the travel and leisure, banking and insurance sectors.
Investors were relieved following the Federal Reserve raised interest rates by 50 basis points on Wednesday, while Chairman Jerome Powell explicitly ruled out a 75 basis point hike at the next meeting, but gains in European shares waned following they opened Wall Street down today.
Stock markets have been hit this year by concerns regarding a faster rate hike, COVID-related shutdowns in China, as well as the conflict in Ukraine and rising inflation, sending the Stoxx 600 Index down more than 10% so far.
