The pan-European STOXX 600 index slipped 0.3%,after it firmed 1% in early trading with banks, financial services firms and retailers leading declines.
"This change of tone perfectly encapsulates the clear and present danger of headline risk with respect to market ebb and flow, as investors nervously eye Russia's next move," said Michael Hewson, chief analyst at CMC Markets. He pointed to individual companies and commodities that have been more impacted that others, but at the aggregate level, in terms of markets, it was less defined.
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