European stocks skid from 1-month high as Fed underwhelms

Reuters

Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

 (For a live blog on European stocks, type LIVE/ in an Eikon
news window)
    Sept 17 (Reuters) - European stocks fell from a one-month
closing high on Thursday after an underwhelming response to the
U.S. Federal Reserve's pledge to keep interest rates low for a
prolonged period.
    The pan-European STOXX 600  .STOXX  dropped 1.1% by 0710
GMT, on course to break its four-day winning streak.
    The U.S. central bank on Wednesday vowed to keep interest
rates near zero until inflation is on track to overshoot the 2%
target, as expected. However, Fed Chair Jerome Powell said an
economic recovery is expected to slow, requiring continued
support from further government spending.  urn:newsml:reuters.com:*:nL1N2GD2AW
    U.S. tech stocks fell the most on Wednesday, while their
European peers shed 1.6%. Banks  .SX7P , automakers  .SXAP  and
miners  .SXPP  were the biggest sectoral decliners in Europe,
down nearly 2%.
    Carmakers Volkswagen  VOWG_p.DE , Renault  RENA.PA  and PSA
Group  PEUP.PA  fell between 2.5% and 3% after industry data
showed new car sales fell by 17.6% in August.  urn:newsml:reuters.com:*:nS8N2F803N
     Property firm Unibail-Rodamco-Westfield  URW.AS  slumped
8.5% as it announced a 9 billion euro plan that includes capital
raise, to boost its balance sheet.  urn:newsml:reuters.com:*:nFWN2GD0K7

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil
D'Silva)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.