European stock markets retreated on Wednesday

European stock markets retreated on Wednesday as traders expect the Federal Reserve to announce another large hike in US interest rates to combat decades-high inflation.

London’s benchmark FTSE 100 index shed 0.2 percent to 7,179.26 points. In the eurozone, Frankfurt’s DAX index slid 1.1 percent to 12,532.24 points and the Paris CAC 40 lost 0.9 percent to 5,926.26, reports BSS.

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“We certainly have a couple of tense hours before the Fed decision falls” at 1600 GMT, noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Many economists are expecting a three-quarter point rate hike for a third meeting in a row, while there is a chance the Fed could opt for a full point increase.

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