European Shares Down for 4th Day

European stocks dropped for a fourth straight session Wednesday led by losses in mining and energy shares, as investors worried about the prospect of a global recession next year, while healthcare stocks rallied after GSK Plc and Sanofi were spared thousands of US lawsuits claiming that the heartburn drug Zantac caused cancer.

US top bankers Tuesday warned of a recession next year, as the ongoing inflationary pressure and rising interest rates hit consumer demand.

Investors have also digested a raft of economic data, including the Eurozone Q3 GDP report, which showed the bloc's economy grew slightly faster than initially thought.

In other economic news, German industrial production contracted less than expected in October, while UK house prices fell the most since October 2008.

On the corporate front, Airbus gave up a numerical forecast for jet deliveries and a date for its key production goal but retained its financial targets.

The STOXX 600 lost 0.6% and Germany's DAX fell 0.4%.