European shares slip as banks drag down financial sector
European shares slipped on Wednesday, with the main STOXX 600 index down 0.5%.
Major banks like Deutsche Bank, Barclays, and Societe Generale all fell over 1%, dragging financial and banking sectors lower across Europe.
The drop followed overnight declines on Wall Street.
Investors are playing it safe right now
Investors are playing it safe right now, especially after Federal Reserve Chair Jerome Powell didn't give any clear hints about future US interest rates.
Italy's market did even worse than its neighbors, showing just how cautious everyone is feeling about economic changes.
Defense stocks rise 0.8%
Not everything was down—defense stocks actually rose 0.8% after former US President Trump voiced support for Ukraine's push to reclaim Russian-held territory.
Meanwhile, Germany's Lanxess tumbled over 5% after Deutsche Bank downgraded its rating from "buy" to "hold."
All in all, it's a reminder that global politics and big business moves can quickly shake up markets.