European Stocks Tumble as Reinsurers, Utilities Fall on Japan

European stocks dropped for a fourth day, led by a selloff in reinsurers and utilities, as Japan battles to prevent a nuclear meltdown following its largest earthquake on record. Asian shares and U.S. futures fell.

Swiss Reinsurance Co. and Munich Re both declined more than 3 percent after AIR Worldwide said the industry may face claims of as much as 2.8 trillion yen ($34 billion). E.ON AG and RWE AG slipped 2.6 percent and 2.8 percent respectively after officials in China and India and U.S. lawmakers called for a review of atomic energy plans.