Most European Stocks Drop Amid Concern on U.S. Economy

Most European stocks fell, with the Stoxx Europe 600 Index posting its biggest weekly drop in a month, amid concern that automatic spending cuts and tax increases may push the world’s largest economy into a recession.

Credit Agricole sank 5.9 percent after posting a wider third-quarter loss than analysts had estimated. Novo Nordisk A/S rallied 7.3 percent as an advisory panel to the Food and Drug Administration backed its insulin treatment.