European stocks are heading for a negative open on Thursday as global markets react to yet another rate hike from the U.S. Federal Reserve.
Analysts had widely expected a 75 basis point hike from the Fed, marking its fourth increase in a row as it seeks to battle rampant inflation. U.S. Federal Reserve Chairman Jerome Powell also signalled possible future hikes.
The Bank of England is also expected to implement a similar rate hike when it publishes its latest monetary policy decision on Thursday.
Global markets have largely reacted negatively to the Fed’s latest move; shares in the Asia-Pacific dropped on Thursday while U.S. stock futures were slightly higher Wednesday evening following losses during the daily trading session.
Source: CNBC
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