European Stocks Decline After Bernanke Warning on Fiscal Cliff
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European stocks fell from an 18-month high as Federal Reserve Chairman Ben S. Bernanke said the central bank’s plan to buy $45 billion a month of Treasuries will fail to offset the effects of the fiscal cliff.
Deutsche Bank AG slid 2.7 percent after Germany’s biggest lender said fourth-quarter profit will fall short of estimates. Centamin Plc tumbled 47 percent after a fuel dispute halted production at its gold mine in Egypt. Volvo AB retreated 4.3 percent as Renault SA sold its remaining stake in the Swedish truckmaker to increase funding.