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European Stocks Fall Most in Six Weeks; BNP Drops on French Tax

European stocks dropped the most in six weeks as Portuguese bonds sank amid concern a meeting of the region’s leaders will fail to draw a line under the sovereign-debt crisis.

BNP Paribas SA tumbled 7.1 percent, leading French banks lower, as President Nicolas Sarkozy said he will unilaterally impose a financial-transaction tax. Royal Philips Electronics NV fell 2.2 percent after reporting a larger-than-estimated loss. Hochtief AG slid 5.8 percent after saying it will post a wider annual loss than previously anticipated.