Europe’s benchmark stock index dropped to a three-week low in a broad-based sell-off on Wednesday, testing 2023’s rally spurred by hopes of major central banks pivoting to easier monetary policy this year.
The pan-European STOXX 600 ended 0.9% lower, hitting its lowest level since Dec. 14 and logging its worst single-day performance since November after kicking off the New Year on a lacklustre note on Tuesday.
Flagship indexes in Germany, Italy and France each slid over 1%, hitting near one-month lows.
