European stocks close lower following Fed policy shift; Japan’s Abe resigns
European stocks closed lower Friday as investors digested a major policy shift by the U.S. Federal Reserve and news that Japanese Prime Minister Shinzo Abe is resigning because of health concerns.
The pan-European Stoxx 600 provisionally closed down by 0.4%, with most sectors trading in negative territory.
Europe’s banking index, however, rose by more than 1.7%. The reaction comes after comments from Fed Chairman Jerome Powell. He unveiled a major policy change, which suggests that interest rates are likely to remain low for some time.
Reference: CNBC
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