(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 8 (Reuters) - European shares fell on Wednesday
after Federal Reserve Chair Jerome Powell opened up the
possibility of more aggressive rate hikes going forward, while
sportswear firm Adidas dropped on plans to cut its annual
dividend.
The pan-European STOXX 600 index was down 0.3% by
8:05 GMT, hitting its lowest level in a week.
The index posted its steepest one-day fall in nearly two
weeks on Tuesday after Powell, at a hearing before the Senate
Banking Committee, said the central bank might need to raise
interest rates more than expected and was prepared to move in
larger steps to temper inflation.
Shares of Adidas fell nearly 2% after the German
sportswear maker said it planned to slash its 2022 dividend to
0.70 euros ($0.7374) per share.
Symrise was down 4%, dragging the European
chemicals sector , after the German flavour and fragrance
maker forecast 2023 core profit margin slightly below market
expectations given rising costs.
(Reporting by Amruta Khandekar; Editing by Subhranshu Sahu)
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