European Stocks Decline as Draghi Sees Room to Tweak Stimulus

European stocks tumbled as investors assessed Mario Draghi’s comments indicating he sees room for paring monetary stimulus without tightening policy.

The Stoxx Europe 600 Index retreated 0.8 percent at the close. Banks bucked the trend, following bond yields higher after comments by the European Central Bank President, while miners saw their best jump in a week. Shares of automakers were among the biggest losers, led by Schaeffler AG, which tumbled after cutting its 2017 profitability forecast.