European stocks closed at their lowest in more than three months on Thursday, and worries about the implementation of an interest rate hike weighed negatively on risk appetite, while shares in Embryiser Group fell after offering discounted shares.

Fears about longer-term interest rate hikes intensified after a survey showed private-sector job creation in the United States rose more than expected in June, indicating the labor market remains strong despite rising risks of a recession. For higher interest rates.

It comes after US Federal Reserve meeting minutes released on Wednesday showed the bank agreed to keep interest rates unchanged at the June meeting, buy time and assess the need to raise interest rates again.

Meanwhile, investors are closely watching U.S. Treasury Secretary Janet Yellen’s first visit to China after tensions sparked by Beijing’s new restrictions on exports of certain minerals.

Orders in the German industrial sector rose more than expected in May, supported by big orders for ships, spacecraft and military vehicles.

Price movements

The European Stoxx 600 index extended its losses, eventually falling 2.3 percent, its lowest level since late March, while the Euro Stoxx 50 index fell 2.9 percent.

France’s CAC40 index led the decline in the region, falling 3.1 percent.

After the Swedish video game group raised 2 billion kroner ($182 million) in a stock offering aimed at institutional investors, Impressor shares posted the biggest losses on the Stoxx 600 index, falling 13.8 percent.