European stocks drop as selloff in US shares fuels risk-off mood

Tech and growth shares have been particularly vulnerable in the latest selloff amid risks to their future earnings from rising rates.

The Stoxx Europe 600 Index was down 1.7% as of 9:03 a.m. in London after the S&P 500 posted its biggest drop in almost two years.

European stocks slumped on Thursday as a sharp selloff in US shares fueled concerns of an economic slowdown and further dented demand for risk assets.

The Stoxx Europe 600 Index was down 1.7% as of 9:03 a.m. in London after the S&P 500 posted its biggest drop in almost two years. Personal care stocks were the biggest decliners, followed by autos and financial services.