European stocks fall before EU summit

European stocks dropped earlier today, following the comments from Greece's ex-Prime Minister Lucas Papademos and in anticipation of the EU summit. Papademos mentioned that preparations to exit the single currency area are under consideration. Resources and banks, which were leading yesterday, are falling today. At the time of writing the Stoxx Europe 600 index dropped 1.03% to 242.25 points, the CAC 40 index lost 1.30% to 3,044.16, the DAX 30 also decreased 1.30% to 6,351.81 and the FTSE 1000 tumbled 1.40% to 5,327.75