LONDON — European stocks are expected to open sharply lower on Thursday following losses stateside Wednesday that saw the Dow Jones Industrial Average notching its first decline of 2022.

United Kingdom’s FTSEIndex opens at 7.391 Germany, 114 points less DAXFrance’s 15,986 points are down by 285 points CAC 40 down 141 points at 7,235 and Italy’s FTSE MIBData from IG shows that 506 points are lower at 27,488

European markets set to follow their Asia-Pacific counterparts lower ThursdayFollowing losses suffered in the U.S. on Wednesday’s trading session

Following the recession, there were declines minutes from the U.S. Federal Reserve’s December meetingShown officials ready to aggressively dial back thePandemic-era, easy monetary policy of the central bank.

While the Fed is tapering bond purchases, it plans to cut the number of Treasurys or mortgage-backed securities that it owns. It is also planning to raise interest rates following the end of the taper.

Major indexes on Wall Street fell sharply following the release of the minutes, with the S&P 500 dropping 1.94% to 4,700.58. Dow Jones Industrial Average dropped 392.54 points, to 36.407.11; while tech-friendly Nasdaq Composite fell 3.34%, to 15,100.17. In overnight trading, U.S. stocks futures fell Wednesday.

Thursday data release in Europe includes German industrial orders November, and Euro zone producer prices that same month.