European Stocks Drop Most in Seven Weeks After Draghi’s Comments

European stocks fell after Mario Draghi said the European Central Bank will gauge the need for further stimulus early next year, quelling speculation the lender would start buying sovereign bonds soon.

The Stoxx Europe 600 Index slid 1.3 percent to 344.84 at the close of trading in London. The ECB also lowered its forecasts for euro-area inflation and gross domestic product through 2016. The stocks gauge gained as much as 0.5 percent, before losing as much as 1.4 percent.