Europe Markets: European stocks finish sharply lower; British American Tobacco PLC’s stock sinks 12%

European stocks ended sharply lower Monday as investors wrestled with the latest developments tied to Italy’s contentious budget plan and Britain’s negotiation’s to strike a trade pact, as that country’s leaders plot to leave the European Union. A tumble in shares of British American Tobacco PLC also weighed on European bourses.

What are markets doing?

The Stoxx Europe 600 SXXP, +0.52% fell 1% to close at 362.03, after the index put in a weekly gain of 0.5%.

Germany’s DAX 30 DAX, +0.64% ended the day 1.8% lower at 11,325.44, while France’s CAC 40 PX1, +0.42% dropped 0.5% to close at 5,106.75.

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