European stocks lower after US interest rate hike

European stocks declined on Thursday, after a weak trading session on Wall Street the day before, when the Federal Reserve announced a widely expected 25 basis point interest rate hike and hinted it might suspend monetary tightening soon. ,

According to “Reuters”, the European Stoxx 600 index fell 0.4 percent, by 0808 GMT, after closing at its highest level in more than a week on Wednesday.

However, US stock futures stabilized after a turbulent session on Wall Street after the US Reserve raised interest rates to a range between 4.75 and 5 percent despite the recent turmoil in the banking sector, but retracted its talk about “continuing The increases in interest…

European banking shares fell 1 percent, leading the losses in the financial sector. Citigroup downgraded the sector’s credit rating, warning that the rapid pace of interest rate hikes would affect economic activity and bank profits.

Investors expect interest rate hikes from the central banks of the United Kingdom, Norway and Switzerland later on Thursday.

While Sanofi shares rose 3.9 percent after the French pharmaceutical company said that its drug for the treatment of asthma and eczema, which it developed jointly with Regeneron, had achieved all the goals in experiments to treat “smokers’ lungs.”