European Stocks Suffer Worst Day Since April on Tariffs, Jobs

European stocks notched their biggest decline in nearly four months following the latest salvo of US tariffs and a weaker-than-expected American jobs report. Drugmakers sank as President Donald Trump escalated his campaign for lower medicine prices.

The Stoxx Europe 600 Index dropped 1.9% on Friday, marking its biggest decline since April 9, with all sectors in the red. France’s CAC 40, Germany’s DAX and Italy’s FTSE MIB all fell more than 2.5%. Stocks extended early losses after the July employment report, which showed that US job growth cooled sharply over the past three months.