Europe STOXX 600 Falls on Auto and Telecom Selloff
European shares dropped sharply as automobile and telecom sectors led a broad market decline. Volkswagen shares fell after slashing its outlook, while regional indices logged weekly losses following major central bank rate decisions.
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Europe's STOXX 600 fell 1.1% to 635.45 points on Friday afternoon, led by sharp losses across automobile and telecom shares. The regional benchmark dropped 0.6% over the week amid shifting central bank policy and retreating commodity markets. Investors are weighing whether recent rate decisions will tame inflation or trigger a broader economic slowdown.
