Economics
Europe Stocks Drop Most in 10 Months on Stimulus Concern
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European stocks dropped the most in 10 months after the Federal Reserve signaled it will scale back its stimulus if the U.S. economy improves and as data showed Chinese manufacturing shrank.
PSA Peugeot Citroen and Anglo American Plc led carmakers and mining companies lower, respectively, on concern demand from China will weaken. St. James’s Place Plc tumbled the most in 4 1/2 years after Lloyds Banking Group Plc sold 77 million shares in the British wealth manager. SBM Offshore NV jumped to the highest price in 13 months after saying its first-quarter revenue increased 35 percent.