European stocks experience fallout from US Fed hike

Retail stocks were the biggest decliners, with online retailers slumping after Asos Plc cut its forecast and Boohoo Group Plc recorded its first UK sales decline

The Federal Reserve's interest rate hike was the biggest made by the US central bank since 1994.

European shares fell as investors weighed risks to growth from surging inflation after the Federal Reserve went ahead with the biggest rate increase since 1994.

The Stoxx Europe 600 Index was 1.5% lower by 8:40am in London, with all sectors lower.