Drops Worsen for Europe Stocks in Longest Losing Run Since ’14
- Cyclicals suffer as banks, carmakers, oil producers slump
- Italy’s FTSE MIB drops the most among western-European markets
European Stocks Suffer Eighth Day of Declines
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European shares fell for an eighth day, following a global selloff amid growing nervousness as polls indicated a tightening race between Hillary Clinton and Donald Trump for the U.S. presidency.
The Stoxx Europe 600 Index sank to its lowest level in almost four months, led by plunges in banks, automakers and energy producers amid a flight to safety. The U.S. presidential election is increasing anxiety in a market that’s already suffering from skepticism about the economic recovery and concern about the path of central-bank stimulus. A gauge tracking volatility expectations for euro-area shares rose for an eighth day, its longest streak since 2011.