LONDON, Sept 22 (Reuters) - European shares fell on Wednesday, led lower by banks on lingering concerns over the pace of the global economic recovery following the latest assessment by the U.S. Federal Reserve .
However, miners provided some support as gold hit a record high on the prospect that the Fed may inject money into the U.S. economy, raising concerns of long-term inflation.
By 0724 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.4 percent at 1,078.12 points.
"Equities will be volatile," said Justin Urquhart Stewart, director at Seven Investment Management. "I think there will be concerns on the Fed announcement about how much quantitative easing could be necessary."
The Federal Reserve on Tuesday opened the door for possible further U.S. stimulus, although it made no policy shift at the end of a one-day meeting, keeping overnight interest rates near zero.
Banks Barclays, UBS and Banco Santander fell 0.7 to 1.5 percent, while the STOXX Europe 600 basic resources index gained 0.5 percent. (Reporting by Joanne Frearson; Editing by Michael Shields)