European shares post worst weekly loss since September as recession fears mount

Dec 16 (Reuters) – European shares slid on Friday, ending the week sharply lower after major central banks flagged further rate hikes, while economic activity data from the euro zone failed to assuage concerns of a looming recession.

The Europe-wide STOXX 600 index (.STOXX) closed 1.2% lower on Friday, ending the week with a loss of nearly 3.3%.