STOXX 600 Slides Amid Novo Nordisk Setback and Trump Trade Tensions

The STOXX 600 recorded a weekly fall as healthcare stocks declined, driven by Novo Nordisk's 20.8% plunge due to disappointing trial data. Trump's comments on EU-U.S. trade relations further influenced market sentiment. The index trimmed some losses, closing at a near 2% decline for the week.

The STOXX 600 index experienced its second consecutive weekly decline, largely attributed to the healthcare sector's performance. Danish company Novo Nordisk saw its shares plummet by 20.8% following unsatisfactory results from a trial for its new obesity drug, impacting the overall market value.

The drop in healthcare stocks contributed to a 0.9% reduction in the STOXX 600, recovering slightly from a 2% fall during the trading session. This week marks the index's steepest decline since early September.

Adding to market pressures, comments from U.S. President-elect Donald Trump about the EU's need to purchase U.S. oil and gas inflamed trade tension debates. Meanwhile, economic data indicated a weaker growth trajectory, with the FTSE 100 marginally down and British retail sales underperforming expectations.

(With inputs from agencies.)