European stocks opened lower on Friday as investors digested a series of rate hikes from central banks in the region and beyond.
The Stoxx 600 was down 0.2% at market open, with most sectors and major exchanges trading in the red.
Food and beverage, healthcare and retail were the only sectors to post gains, with healthcare up 0.5%.
Oil and gas stocks were the biggest losers, down 1.26% after the open.
Traders will now watch data from the S&P Global Purchasing Managers’ Index (PMI) for the Eurozone, due later this morning.
Thursday’s market moves come after the Bank of England raised rates by 50 basis points on Thursday – its seventh straight increase, and the Swiss National Bank raised its benchmark rate to 0.5%, a change that ends an era of negative rates in Europe.
The U.S. Federal Reserve, meanwhile, rose three-quarters of a percentage point on Wednesday and signaled the increases would continue.
U.S. stocks closed lower on Thursday, their third consecutive daily decline, and futures were also lower in early trading on Friday.
Asian markets, meanwhile, were in the red, with Australian shares down 2%.