Fed sends STOXX 600 to near three-week low
STOXX 600 down 0.9%
Fed signals slower pace of cuts
Riksbank cuts; BoJ, Norges Bank hold
BoE to come
S&P futures edge up after Wednesday fall
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FED SENDS STOXX 600 TO NEAR THREE-WEEK LOW
The pan-continental STOXX 600 .STOXX is at its lowest in almost three weeks on Thursday, after the Federal Reserve signalled it would slow its pace of easing in 2025, following 100 bps of cuts since the September confab.
Projections from Fed policymakers signalled two rate cuts in 2025, down from the four previously expected. The outlook shift sent U.S. stocks tumbling with the S&P 500 shedding near 3% on Wednesday and the Dow losing over 1,100 points.
European shares have followed suit. The STOXX 600 is down 0.9% to its lowest since Nov. 29.
The DAX, CAC and FTSE are 0.7%-1% lower.
Losses are broad based with all major subsectors in the red, led by technology (-2%), financial services (-1.7%) and real estate (-1.4%).
There are some bright spots -- Britain's Serco is up 5% after results.
Shares of UK water utilities - Pennon, Severn Trent, United Utilities - are higher after the regulator said bills could rise 36% in the next five years.
Here's your opening snapshot:
(Samuel Indyk)
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THURSDAY'S OTHER LIVE MARKETS POSTS:
EUROPE BEFORE THE BELL: FUTURES SLIDE ON FED OUTLOOK CLICK HERE
JAPAN HOLDS, BANK OF ENGLAND UP NEXT CLICK HERE
US Dollar Index https://reut.rs/3ZMxNR8
European shares dive after Fed https://reut.rs/3Dh7vij
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