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European Stocks Extend Worst Quarterly Drop Since 2012 on Greece

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European stocks fell for a second day as investors weighed Greece’s ability to meet a payment amid an expiry of its bailout package.

The Stoxx Europe 600 Index dropped 1.3 percent to 381.31 at the close of trading, taking its second-quarter loss to 4 percent. Greece is set to withhold a $1.7 billion payment due to the International Monetary Fund on Tuesday, when its euro-area aid package also runs out. Equities tumbled on Monday after Greece called for a July 5 referendum on creditor demands, shut its banks and imposed capital controls.