[Europe Open] US Fed Rate Hike Leads to Slight Weakness in Early Trading

Major European stock markets are showing weakness in early trading on the 23rd (local time) due to the US Federal Reserve's (Fed) interest rate hike.

As of 6:03 PM Korean time, the pan-European index Euro Stoxx 600 is down 0.4% compared to the previous trading day. The banking sector is trading at prices 1.1% lower than the previous session.

Following the Fed's decision to raise the benchmark interest rate by 0.25 percentage points the day before, the Bank of England (BOE) is set to announce its benchmark rate today. With the UK consumer price inflation rate rising to 10.4% in February from 10.1% the previous month, the market expects the BOE to raise the benchmark interest rate by 0.25 percentage points.