European stocks closed lower Wednesday as traders looked for signs of what to expect from talks between the U.S. and China at the upcoming G-20 summit.

The pan-European Stoxx 600 closed provisionally 0.3% lower at 382.20, with auto stocks gaining 0.9% while the healthcare sector led losses with a 1.2% fall.

Markets began the day in the red after Federal Reserve chairman Jerome Powell tempered expectations of an imminent cut to interest rates.

They erased losses by mid-morning after Treasury Secretary Steven Mnuchin told CNBC’s Hadley Gamble Washington and Beijing “were about 90% of the way there ” on finding a trade deal before negotiations stalled. Equities in Europe dipped back into negative territory shortly after.

Source : CNBC