European stocks decline as banks and insurers retreat ahead of Fed announcement.

European Market Trends: European shares fell, particularly in the banking and insurance sectors, as investors awaited the U.S. Federal Reserve's monetary policy decision, with the pan-European STOXX 600 index down 0.13%.

Fed's Policy Meeting: The Fed's upcoming meeting is expected to result in a 25-basis-point interest rate cut, with some traders speculating on a potential 50-bp cut, reflecting concerns over a weakening U.S. job market and political interference in the Fed's independence.

Impact on Hiring Firms: Shares of hiring firms plummeted after SThree forecasted lower-than-expected annual profits, leading to significant declines in their stock prices, while other European recruiters also experienced losses.

Luxury Stocks Performance: In contrast, luxury stocks saw a rise of 0.9%, reaching their highest level since late July, with increased attention on French luxury brands following the death of designer Giorgio Armani.