European stocks dropped on Thursday, taking their cues from a selloff on Wall Street as well as a plunge in oil prices that weighed on shares of the region’s major energy companies.
The Stoxx Europe 600 index fell 1.6% to close at 374.03, partly erasing a 2% rally from Wednesday, when the benchmark broke a string of seven straight declines. The pan-European index is now on track for a 3.6% weekly slump, which would be its worst since February 2016.
Germany's DAX 30 index slumped 2.6% to 12,260.29, and France’s CAC 40 index fell 2% to 5,151.68. The U.K.’s FTSE 100 ended down 1.5% to 7,170.69.
The euro fell to $1.2243, down from $1.2265 late Wednesday in New York.