European indices declined in early trading after the FED's upbeat outlook for the U.S. economy and its signal to be on track raising interest rates this year. Worries over Greece's future in the Eurozone weigh on the markets as the new Prime Minister Alexis Tsirpas sticks to his promises to roll back austerity measures. Corporate results in the energy sector also led markets lower. Mining and financial stocks were also under pressure.

Data on German Unemployment Change and Unemployment Rate were released today at 08:55 GMT. The Unemployment Rate of the largest economy in the Eurozone was in line with expectations at 6.5% in January compared to revised 6.6% in the previous month. The number of people being unemployed fell by 8,000 compared to forecasts of 13,000.

Eurozone's Private Loans increased by +3.1%, M3 Money Supply rose by +3.6% in December compared to +3.1% in November.

Germany's CPI data is due at 13:00 GMT, followed by U.S. Initial Jobless Claims and Pending Home Sales.

The commodity heavy FTSE 100 index is currently trading -0.78% quoted at 6,772.93 points. U.K.'s Nationwide House Price Index for January grew below estimates at +0.3%. On a yearly basis the index added +6.8% beating estimates by 0.2%. Germany's DAX 30 declined by -0.71% trading at 10,635.17, further retreating from an all-time high at 10,810.57 hit on Tuesday. France's CAC 40 lost -0.63%, currently trading at 4,581.72 points.