European stocks are expected to open sharply lower on Monday, following jitters in global markets over the more hawkish tone from the U.S. Federal Reserve last week.
The decline forecast for European markets follows similar moves elsewhere overnight. U.S. stock futures slid early Monday morning after the Dow posted its worst week since October, while shares in Asia-Pacific dropped in Monday morning trade with Japan’s markets plummeting, where the Nikkei 225 plunged 4%.
The moves come as investors continue to digest new economic projections from the Federal Reserve and worry that rate hikes could come sooner than expected. Last Wednesday, the Fed raised its inflation expectations and forecast rate hikes in 2023.
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