STOXX 600 Faces Steepest Drop in a Year Amid Investor Uncertainty

Europe's STOXX 600 index saw its biggest monthly drop in a year, falling 3.4% in October. The decline was driven by weak corporate earnings and uncertainty surrounding the U.S. election and eurozone inflation. Notable movers included Societe Generale, Maersk, and Technip Energies with significant gains.

Europe's STOXX 600 plunged over 1% on Thursday, capping off a month that saw its most significant decline in a year. The drop was attributed to disappointing corporate earnings and investor apprehension around macroeconomic factors and the upcoming U.S. election results.

The index closed 1.2% lower, hitting its lowest point since mid-August. The retail sector led the market's overall downturn with a notable 4% decrease. Throughout October, the STOXX 600 dropped 3.4%, with technology and real estate sectors experiencing the bulk of the declines.

The French CAC 40 index emerged as the weakest performer among regional counterparts. Investor anxieties were further fueled by the U.S. presidential election and the potential economic implications of a Trump victory, including higher tariffs and increased defense spending.

(With inputs from agencies.)