European Stocks Decline for First Time in Three Sessions

European stocks closed lower on Wednesday, after rising for two consecutive sessions, despite concerns about the Federal Reserve raising rates soon to combat inflationary pressures eased by Chair Jerome Powell.

The pan-European STOXX 600 index fell by 3.32 points, or 0.73%, to finish at 453.10 points.

The French CAC40 index lost 0.91% to close at its lowest level since June 10 at 6,551.07 points.

The German DAX dropped by 1.15% to 15,456.39 points, while the UK’s FTSE100 slipped by 0.22%.