Markets in Europe are expected to remain muted amidst overwhelming anxiety regarding prolonged period of interest rate hikes. Close on the heels of the Fed's rate hike on Wednesday, the Bank of England and the European Central Bank, both raised rates by 50 basis points, instilling fresh fears of a recessionary economic scenario.
The fears of the Fed's aggressive interest rate hiking cycle triggering a painful recession had dragged the Wall Street lower on Thursday, with the Nasdaq Composite shedding a whopping 3.2 percent to close at 10,810.53 and the Dow Jones Industrial Average plunging 2.3 percent to finish trading at 33,202.22.
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