Markets fall, ECB to slow asset purchases

Markets were mostly lower on Thursday.

The S&P 500 fell 0.5 percent, the STOXX Europe 600 dipped 0.1 percent and the Nikkei 225 fell 0.6 percent.

The European Central Bank left its key interest rate unchanged at zero at its monetary policy meeting on Thursday but announced that it will slow the pace of its emergency asset purchases.

“Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the (PEPP) than in the previous two quarters,” the ECB said in a statement.