Europe Stocks Slide 11% From June High as Data Disappoint
This article is for subscribers only.
European stocks fell the most in almost three years, taking their decline from a June high to 11 percent, as Shire Plc led health-care companies lower, while investors weighed earnings and worse-than-forecast U.S. retail-sales and manufacturing data.
Shire sank the most in more than 12 years as AbbVie Inc. reconsiders the 32.4 billion-pound ($51.6 billion) purchase of the U.K. drugmaker amid new U.S. tax laws. Greek and Italian lenders led bank stocks lower. Petroleum Geo-Services ASA slid 3.9 percent after lowering its annual-profit forecast.