European shares closed sharply lower on Tuesday, on ongoing concerns about the scaling back of monetary stimulus programs by central banks.
The pan-European FTSEurofirst 300 Index closed provisionally down 1.2 percent at 1,179.40 points on Tuesday, after the Bank of Japan disappointed investors by failing to address market volatility in its monetary policy statement.
While analysts had widely expected no action from Japan's central bank, many had still hoped for additional steps to ease market turbulence. The disappointment was reflected in the yen, which strengthened to the 97 handle against the dollar.
"The BOJ is sending the message that at the end of the day it's a central bank and will not pander to the markets too much," said Vishnu Varathan, market economist at Mizuho Corporate Bank.