European stocks lower at close amid global recession concerns

By Aysu Bicer

ANKARA (AA) - European stock markets closed the first trading day of the week lower as major central banks' aggressive moves in their monetary policies intensify worries that the global economy could be pushed into a recession soon.

The Bank of England is expected to continue its interest rate increases on Thursday, which would be its fifth consecutive rate hike.

The Fed will also hike rates on Wednesday and it is widely anticipated to continue monetary tightening in its July and September meetings.

The benchmark index Stoxx Europe 600 depreciated 2.41% to 412.52 points.

The UK's FTSE 100 index went down 1.53% to 7,205.81 points, while Germany's DAX 30 index decreased 2.43% to 13,427.03 points.

Italy's FTSE MIB 30 index fell 2.79% to 21,918.04 points, while France's CAC 40 index diminished 2.67% to 6,022.32 points.