European Stocks See Worst Weekly Losses since October

European stocks closed Friday lower, due to reduced risk sentiment among investors due to the recent correction wave that followed some unusual surges on retail stocks due to speculations.

In addition, concerns about the rollout of Coronavirus vaccines deepened the European market losses this week.

The STOXX Europe 600 index finished Friday lower by 1.9%, expanding its weekly decline to 3.1%, the worst since October of last year.

The pan-European index has lost all of the gains it saw since the beginning of 2021.

The French CAC40 index dropped by 2.02%, while the German DAX closer today lower by 1.71%.

Meanwhile, the UK’s FTSE100 index ended the session lower by 1.82%.