European stocks head for lower open as a reaction to Fed´s hike

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