European stock markets settled lower on Wednesday after a series of profit warnings conspired with frustration over slow progress on reforms coming from the White House to dent confidence in the so-called Trump trade.

Europe's leading Blue-chip index, EURO STOXX 50 fell 8.92 points or 0.26 percent to settle at 3,420.70. UK's benchmark index FTSE 100 declined 53.62 points or 0.73 percent to close at 7,324.72.

Meanwhile, Germany's benchmark index DAX fell 58.01 points or 0.48 percent to end at 11,904.12. French benchmark index CAC 40 declined 7.73 points or 0.15 percent to end at 4,994.70.