India, May 22 -- European stocks closed lower on Thursday as rising concerns over U.S. fiscal outlook and a lack of clarity on tariff negotiations rendered the mood cautious, prompting investors to lighten commitments.
The U.S. tax cut bill was passed in the House in a largely party-line vote early this morning, but it is feared that the mega-bill pairing tax relief with spending cuts could add trillions to the federal government's already massive debt and further slow U.S. economic growth.
The pan European Stoxx 600 ended down 0.64%. The U.K.'s FTSE 100, Germany's DAX and France's CAC 40 lost between 0.5 to 0.6%, while Switzerland's SMI closed down 0.89%.
Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland,...