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European stocks suffered their worst daily fall in three weeks Friday, weighed by strength in the euro, as the flow of corporate quarterly results failed to provide a lift. The Stoxx Europe 600 SXXP, -1.02% was slammed lower by 1% to 380.16. Industrial, tech and the oil-and-gas put in particularly weak performances, as crude-oil prices slumped and as the enthusiasm for technology shares cooled following a sharp, recent rebound for that sector.
U.S. stocks closed lower Friday, with the Dow industrials finishing lower for the week, as General Electric Co.'s GE, -2.92% outlook cast a cloud over earnings season, which is just getting started. The Dow Jones Industrial Average DJIA, -0.15% fell 31.71 points, or 0.2%, to close at 21,580.07, with shares of GE falling 2.9% and shares of Chevron Corp. CVX, -1.32% and Goldman Sachs Group Inc. GS, -0.95% helping to lead blue chips lower.
Asian shares were mostly lower Monday, with stocks in Japan and Australia underperforming notably as further declines in the U.S. dollar continued to weigh on investor sentiment. A fresh pullback in commodity prices also hurt equities, despite the weaker dollar. Many assets in the sector are denominated in the dollar and often rise when the currency falls.
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