European Stocks Drop for Worst Week in Month on Rate Hike Fears
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European stocks posted their worst week in a month amid concern about the impact of future interest-rate hikes aimed at curbing inflation.
The Stoxx Europe 600 index fell 0.8% by the close in London on Friday and declined by the same amount in the week. Travel and leisure and real estate declined the most, while retailers were weighed down by UK sales data. Defensive sectors like health care and consumer staples outperformed.