European stocks hit 2-year low

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(Reuters) – European shares fell to their lowest close in more than two years on Tuesday, on worries that the euro zone debt crisis was deteriorating, with political discord in the region, and that major economies were headed for recession.

Banks exposed to the euro zone peripheral among the worst performers. The STOXX Europe 600 Banking Index fell 2.1 percent and hit a fresh 29-month low. French banks BNP Paribas and Societe Generale fell 5.2 and 6.3 percent respectively.

Full story: Europe shares hit 2-yr closing low; Swiss stocks up