European Stocks Sink to Two-Year Low on Deepening Debt Concern

European stocks declined for a third day, reaching the lowest in more than two years, as deepening concern that the region’s debt crisis will derail the recovery overshadowed better-than-estimated growth in U.S. services.

UniCredit SpA and Societe Generale SA fell more than 4 percent as a gauge of banks slid to the lowest level since March