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European Stocks Slide
World Economy

European Stocks Slide

European stocks slid, posting the biggest retreat since they began rallying in January, as concern over Greek debt was exacerbated by declines in the US and Asia, Bloomberg reported. The Stoxx Europe 600 Index lost 1.8% to 403.69 at the close of trading, completing the worst week of the year. The Greek ASE Index slid 3%, with the National Bank of Greece SA and Alpha Bank AE tumbling more than 7%, as the country struggles to win more aid to avoid a default. Germany’s DAX Index plunged 5.5% this week, the most since 2011. European stocks fell for a second day after reaching a fresh peak Wednesday, taking weekly losses to 2.2%. The Stoxx 600’s still up 18% this year amid European Central Bank stimulus, and trades near the highest level relative to projected profits of its members in at least a decade.

 

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