European Stocks Post Longest Losing Run of Year on Rate Hikes

European equities extended declines to a fourth day on hawkish signals from policy makers as the Bank of England surprised the market with a bigger-than-expected rate increase, fueling further fears of an economic slowdown.

The Stoxx Europe 600 Index fell 0.5% by the close in London, recording the longest losing streak since early December. Banks, automakers and real estate shares were among the biggest decliners. More defensive sectors like consumer staples and food outperformed.