European Stocks Post 1.9% Weekly Decline

European stocks closed lower on Friday, erasing earlier gains and turning to losses for the week, due to huge losses by tech stocks in Wall Street.

The pan-European Stoxx 600 index finished lower by 1.1%, registering weekly losses of 1.9%.

The UK’s FTSE100 lost 0.88% for the day and recorded its straight weekly decline.

In France, the CAC40 index fell by 0.89%, while the German benchmark index DAX dropped by 1.65%.