After a day of fluctuations, European stocks finally closed at their lowest levels since September, extending losses after their worst weekly plunge in more than four years.
The Stoxx Europe 600 Index erased its gain in the final hour of trading, falling 0.3 percent at the close as commodity producers reversed advances. Germany’s DAX Index, which heavily relies on exporters and was among the worst developed markets last week, slipped 0.3 percent, after earlier climbing as much as 1.3 percent.
European equities tumbled last week as concern took over that China’s slowdown will hurt the global recovery, even with the European Central Bank’s stimulus supporting the region. After its worst-ever start to a year ever, the Stoxx 600 went on to fall three more days, ending with a 6.7 percent weekly plunge — a bigger slump than the Standard & Poor’s 500 Index and the MSCI Asia Pacific Index. With China being Germany’s third-biggest trade partner, the DAX tumbled 8.3 percent.