European Stocks Fall Amid Earnings Concerns, China Covid Flareup

On Monday, European stocks dropped as traders braced for a crucial earnings season amid concerns about more Covid curbs in China as cases rise again. Investors are preparing for the second-quarter earnings season as concerns rise that soaring inflation is weighing on consumer spending and crimping margins. The declines in Europe came as Chinese stocks had their worst day in about a month as the Covid resurgence combined with fresh fines for tech giants hit markets. The Stoxx Europe 600 index fell 0.5% by the close in London, trimming an earlier slump of 1.5%. The declines followed three consecutive days…