European Stocks Fall On Fresh Concerns Over Wobbly Recovery, Tesco Profit Downgrade

European stocks continued their downward spiral on Tuesday, as October declines in U.K. manufacturing and German imports added to worries about a wobbly recovery, with troubled U.K. food retailer Tesco leading London stocks lower. Tesco slumped after downgrading its full-year trading profit, promising to release further details early in the new year about planned measures to bolster its U.K. business and its overall balance sheet. Energy stocks were also down on news that Iraq will cut crude-oil prices to Asia, while Deutsche Bank slumped in Frankfurt on a U.S. government lawsuit seeking $190 million in back taxes, penalties and interest.