European stocks traded lower on Wednesday as traders awaited a decision on interest rates from the U.S. Federal Reserve, while corporate earnings remained high on the agenda.
The pan-European Stoxx 600 dipped below the flatline during afternoon trade, with banks dropping more than 2% as Deutsche Bank shares plunged, while household goods stocks added 1.5%.
The FTSE 100 in London had managed to eke out small gains by the mid-afternoon.
Investors are looking ahead to an interest rate decision from the U.S. Federal Reserve Wednesday afternoon. The Federal Open Markets Committee (FOMC) is widely expected to cut rates by 25 basis points for the third time this year.