European shares slammed by lacklustre earnings, Fed jitters

Published by
Reuters UK

By Sruthi Shankar and Shreyashi Sanyal (Reuters) -European stocks dropped on Wednesday, weighed by disappointing earnings and investor jitters ahead of a policy decision by the U.S. Federal Reserve, which is expected to hike rates by the most since 2000 to tame inflation. The pan-European STOXX 600 index dropped 1.1%, and most regional indexes were also in negative territory. Retailers led sectoral losses in Europe, with Britain’s online fashion retailer Boohoo plunging 12.4% after freight and logistics cost inflation led to a 28% fall in its annual core earnings. Pandora slipped 2.1% after th…

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