Worries over US hit Euro stocks

EUROPEAN stocks sank the most in fourth months, extending an 11-month low, amid concern the US recovery is faltering and the world’s largest economy may lose its top credit rating.

Societe Generale, France’s second-largest bank, tumbled 9% after the company reported second-quarter results that missed analysts’ estimates. Cairn Energy fell 5.1 after abandoning an oil well off Greenland.

UPM-Kymmene Oyj slumped 9.3%, its biggest decline in eight years.