European stocks amid most volatile markets in four months

The European stocks are amid the most volatile markets in four months. On Friday, they extended a streak without notable gains to 11 days amid mixed earnings and ongoing jitters about the outcome of next week’s U.S. presidential election.

Erste Group Bank AG dragged lenders lower, losing 7.2 percent after Austria’s biggest bank forecast lower profitability next year.

The Stoxx Europe 600 Index slipped 1 percent to 328.32 at 11:24 a.m. in London and is heading for its worst week since February. A late selloff erased gains yesterday leaving the index virtually unchanged at the close, as investors weighed bank earnings, the implications of a U.K. ruling on the Brexit process and disappointing U.S. data. Shares have also been hurt by opinion polls showing a dwindling lead for Democratic presidential candidate Hillary Clinton before America votes on Tuesday. A measure of share volatility has risen for 10 straight days, it’s longest run since 2011.

U.K. stocks fell the most among major western-European markets, dropping for a fifth day amid a rebound in the pound. The FTSE 100 Index lost 1.1 percent at 9:40 a.m. in London, taking its slide for the week to 4 percent. The gauge, which rallied as much as 14 percent this year and reached a record in October, is heading for its worst weekly decline since January as the nation’s currency strengthened against all of its major peers. The equity measure is heading for its lowest level since mid-September.

Asian stocks headed for the first back-to-back weekly drop in two months amid a global selloff as investors grew increasingly anxious before next week’s U.S. presidential election and Tokyo shares sank for a second day. The MSCI Asia Pacific Index fell 0.9 percent to 136.67 as of 4:10 p.m. in Hong Kong, set for a 1.5 percent decline this week.