European stocks fell Friday, heading toward their deepest weekly drop in nearly three months, with a rough week for the markets rounding off with a disappointing outlook from Cartier parent Richemont and lingering concerns about tax-cut legislation in the US, MarketWatch reports.

What markets are doing: The Stoxx Europe 600 shed 0.4% at 388.64. No sector moved higher, with the industrial and consumer goods groups losing the most. On Thursday, the index dropped 1.1%, the biggest one-day percentage loss since June 29, according to FactSet data.