European shares dropped nearly 1% on Thursday as a raft of dismal corporate earnings including from packaged food giant Nestle worsened an already risk-averse mood, driven by uncertainty over interest rates.
The pan-European STOXX 600 was down 0.8%, hitting an over one-week low.
Shares of Nestle dropped nearly 2% after the Swiss consumer giant posted lower-than-expected nine-month sales growth on Thursday as higher product prices made shoppers balk.
French carmaker Renault shed 4.6% as the pace of sales growth slowed due to currency depreciations.
Nokia lost 1.8% as the Finnish telecom gear group announced plans to slash jobs after posting a drop in its third-quarter sales.
Frankfurt-listed shares of Tesla fell 5.1% after the EV maker missed third-quarter gross margin expectations, while Netflix jumped 12.5% after surpassing Street estimate for new customers.
Source: Qatar News Agency