The pan-European STOXX 600 index was down 0.6 percent by 0709 GMT, with interest rate-sensitive technology stocks down 0.8 percent.
Commodity-related sectors such as mining and energy fell more than one percent each, leading to early losses as metals and oil prices fell against a stronger dollar.
The Federal Reserve fixed interest rates on Wednesday as widely expected, and revised expectations for the economy upwards while warning that the battle against inflation is far from over.
The Nasdaq was down 1.5 percent at the close.
Britain's FTSE 100 fell 0.5 percent ahead of the Bank of England's decision on whether to halt a series of interest rate hikes that began in December 2021 after data on Wednesday showed inflation unexpectedly falling.