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The continent-wide STOXX 600 index dipped 0.4% by 0710 GMT, even though European stock futures recovered overnight after Wall Street rallied to close higher. [.N]
The retail sector fell the most and was down 2.1% as British online fashion retailer ASOS (LON:ASOS) slumped 14.3% after warning inflationary pressures were affecting shopping behaviour.
German rival Zalando dropped 7%.
The Fed on Wednesday raised its target interest rate by 75 basis points, its biggest rate hike since 1994, and projected a slowing economy and rising unemployment in the months to come.
UK’s blue-chip FTSE 100 fell 0.5% ahead of a Bank of England policy meeting expected to result in another interest rate hike.
Swiss drugmaker Roche slipped 0.6% after it said its Alzheimer’s medicine crenezumab did not slow or prevent cognitive decline in people.
