The Stoxx Europe 600 Index dropped 0.3 percent to 384.42 at 9:10 a.m. in London.
“Technical analysis signal shows the Stoxx 600 is close to being oversold, with the relative strength index near 30. Last time it reached that level, in December, the index was about to start its biggest first-quarter rally since 1998,” Bloomberg reported.
Investors are growing frustrated as the Greek crisis is still lingering, and remain expectant over the Federal Reserve’s next rate hike.
In an interview published in the Italian newspaper Corriere della Sera on Tuesday, Greek PM Alexis Tsipras showed a more conciliatory tone, saying that Greece could reach a deal with its international creditors if they dropped demands including pensions cuts.