European markets set to slide at the open after latest Fed hike

European stocks are expected to open in negative territory on Thursday as investors digest another big rate hike from the U.S. Federal Reserve, which implemented a third consecutive 0.75 percentage point rate hike yesterday.

Policymakers pledged to continue raising rates as high as 4.6% in 2023 before pulling back in the fight against inflation, spurring fears on Wall Street that the economy could tip into a recession.

U.S. stock futures fell on Wednesday night following a volatile session for the major averages stateside while overnight in Asia, markets also traded lower.

In Europe, attention will be on the Bank of England and Swiss National Bank, with both expected to hike rates today. Earnings come from Manchester Utd football club and data releases include consumer confidence figures for the euro zone in September.

Written by Online Editor

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