Europe Stocks Fall to 2-Week Low as Drugmakers, Carmakers Plunge
Stoxx 600 Closes Lower as Fiat Chrysler Shares Fall
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European shares closed at the lowest level since the end of 2016 as automakers dropped the most since July and drugmakers fell on concern they could face more price pressures in the U.S. under Donald Trump’s presidency.
The Stoxx Europe 600 Index fell 0.7 percent at the close. Carmakers retreated 2.8 percent after the U.S. government accused Fiat Chrysler Automobiles NV of using software that allowed excess diesel emissions in about 104,000 vehicles. Health-care shares tumbled the most since November, deepening losses that began late yesterday after Trump said he’d force the industry to bid for government business.