European Stocks Fall, Paced by Philips, Alcatel, SAP Shares

[Zorra]

April 18 (Bloomberg)
snip----
``The mood is changing,'' said Matthias Grimm, who manages about $1.3 billion, at Cominvest Asset Management in Frankfurt. ``We've got disappointing macro-economic news'' in U.S. consumer- spending numbers last week, ``and no positive earnings surprise.'' Grimm said he's staying ``overweight'' in financials and ``underweight'' in technology stocks.

The Dow Jones Euro Stoxx 50 dropped 2.2 percent to 2947.79, with all its members declining. The Dow Jones Stoxx 600 Index lost 1.6 percent, with 570 stocks falling. It was the steepest drop for both measures since Aug. 6. The Dow Jones Stoxx 50 Index shed 1.7 percent.

U.S. manufacturing and consumer sentiment reports on April 15 signaled slowing growth in the world's largest economy. The International Monetary Fund on April 13 cut expansion forecasts for Europe and Japan.

http://www.bloomberg.com/apps/news?pid=10000100&sid=aKQC.UVgPvM8&refer=germany

[tanyev]

1. Awwww.

And it was so unexpected.

:sarcasm: