European Shares Subdued Ahead Of Fed Verdict

(RTTNews) - European stocks were subdued on Wednesday after rising in the previous session on Germany's approval for a massive spending surge.

Bond yields dipped marginally as traders await the Federal Reserve's interest-rate decision, the post-meeting statement, updated economic projections and Chair Jerome Powell's comments for greater clarity on how proposed U.S. tariffs may impact prices and activity.

Global ratings agency Fitch has lowered its global growth forecast and warned that U.S. President Donald Trump's reciprocal tariffs will push up inflation and delay Fed rate cuts.

Meanwhile, amid economic headwinds both at home and abroad, the Bank of England is widely expected to hold interest rates when it meets on Thursday.

The pan European STOXX 600 slid 0.1 percent to 553.74 after three days of gains.

The German DAX and the U.K.'s FTSE 100 both dipped around 0.3 percent, while France's CAC 40 was marginally higher.

Rio Tinto fell 1 percent. The mining major has urged shareholders to vote against London-based hedge fund Palliser Capital's resolution to review the firm's two listings in London and Sydney.

Ferrexpo plunged 11 percent. The company said it has formally notified Ukraine of potential claims under international investment agreements.

German real estate group Vonovia was marginally higher after narrowing its FY24 loss. Essentra, a global provider of essential components and solutions, declined 1.3 percent after full-year results showed a decline in organic growth.

Traton tumbled 4.2 percent after its parent Volkswagen said it had sold a 2.2 percent stake in the truck maker for 360 million euros ($393 million).