Reaction of stock markets to Fed comments 'overblown'

European stock markets have fallen sharply after the US central bank signalled it could begin to scale back its economic stimulus programme later this year.

Earlier in Asia, Tokyo's Nikkei 225 had finished 1.7% lower while the Shanghai SSE index fell 2.77%.

But speaking to the BBC, Michael Hewson, a senior market analyst at CMC Markets, suggested the reaction to the Fed comments was "somewhat overblown".