The losses were limited, however, by other, more positive results, including from Barclays and Standard Chartered , as well as London Stock Exchange Group's $27 billion merger with financial information firm Refinitiv.

The exchange operator, in whom Reuters News parent Thomson Reuters will take a 15% stake under the terms of the deal, rose 3.6% in early trade.

By 0708 GMT the pan-European benchmark stock index STOXX 600  had fallen 0.2%, with energy and mining giants the biggest drag as oil, iron ore and copper prices dipped.

The Fed as expected cut interest rates by a quarter of a percentage point on Wednesday, but Chair Jerome Powell disappointed investors by saying the move might not be the start of a lengthy campaign to shore up the economy against risks including global weakness.