European shares decline as Putin’s announcement reinforces the atmosphere of ambiguity

European shares fell at the open on Wednesday, pressured by Russia’s decision to announce a partial military mobilization, which added to investor concerns about the US central bank’s third interest rate hike later on Wednesday.

The pan-European Stoxx 600 index fell 0.3 percent, with most of its sub-sectors declining. The interest rate-sensitive technology sector fell 1.2 percent, while energy stocks rose 1 percent, amid a rise in oil prices on news of Russian mobilization.

Russian President Vladimir Putin ordered a partial mobilization of the army, in a dangerous escalation of the conflict in Ukraine and the first such mobilization in Moscow since World War II.