Further, U.S. stock futures pointed to a further decline in Thursday’s trade.
Most sectors in Europe pulled back, though banks including HSBC Holdings and BNP Paribas BNP rose on the prospect for higher bond yields and better margins.
Meanwhile, Asian markets were mixed on Thursday after the U.S. Federal Reserve moved up its timeline for rate hikes. In Japan, the Nikkei 225 fell 0.93% while the Topix index dipped 0.75%, the S&P/ASX 200 in Australia fell 0.37% and South Korea’s Kospi declined 0.42%.
Fed Chair Jerome Powell said projections for future rate increases should be “taken with a big grain of salt” and reiterated that he believes that inflation is transitory.
Powell also did not issue guidance on when the central bank will begin tapering its bond-buying program.