European Stocks Drop on Spain Bond Auction, Fed Stimulus Stance

European stocks fell the most in four weeks after Spain sold fewer bonds than its maximum target and the Federal Reserve damped expectations of more monetary stimulus for the U.S.

Volvo AB tumbled 4.8 percent after ACT Research said North American preliminary truck orders in March were less than expected. Carmakers declined, with Peugeot SA and Renault SA dropping at least 4 percent each, after a report showed U.S. sales of light vehicles rose less than forecast. Royal Bank of Scotland Group Plc lost 2.9 percent after people familiar with the matter said the lender canceled a bond sale.