European Shares Fall on Strong US Jobs Data

European stock indexes fell Friday afternoon, heading for the first week of losses in seven, as hopes the Fed would start slowing the pace of its rate hikes this month faded on strong US nonfarm payrolls data.

The November report showed that the economy added 263 thousand jobs and wage growth accelerated unexpectedly to a ten-month high, with both figures beating market expectations.

Investors have also digested a batch of European economic data.

The Euro Area producer price inflation slowed more than expected in October, but remained well above the ECB's target, while Germany's exports fell more than forecast amid soaring inflation, weakening foreign demand and strained supply chains.