European stocks fall as the crisis in Ukraine worsens

European shares fell for the third consecutive session on Friday, on course to end the week lower as the escalating Russia-Ukrainian conflict kept investors cautious as the weekend approaches.

A decline in financial and technology shares erased gains in core and low-risk sectors, with the pan-European Stoxx 600 index falling 0.2 percent.

The Stoxx 600 is expected to end the week down 0.4 percent as higher energy prices due to sanctions against Russia fueled inflation fears and raised concerns about slowing economic growth.

The West imposed more sanctions on Russia on Thursday, and Washington was planning to retaliate if Moscow used nuclear weapons.

Telecom Italia shares jumped 5.9%, extending gains after KKR said it was still interested in acquiring the telecom group.