Germany leads European shares lower on sentiment survey, Powell speech

Aug 26 (Reuters) – European shares tumbled on Friday, with Germany in the lead as investors fretted over downbeat consumer sentiment data in the continent’s biggest economy, while a reiterated hawkish stance from Federal Reserve Chair Jerome Powell added to fears.

The pan-European STOXX 600 (.STOXX) slid 1.7%, closing down 2.6% for the week. Germany’s DAX index (.GDAXI) ended 2.3% lower, with a weekly fall of 4.2% making it its worst week in more than two months.