India, Aug. 1 -- European stocks fell sharply to hit three-week lows on Friday as investors assessed the potential economic impact of fresh U.S. levies on dozens of countries, including a 39 percent rate on Switzerland.
Pharma stocks were coming under heavy selling pressure after U.S. President Donald Trump asked 17 major global pharmaceutical companies to lower drug prices in the U.S.
In economic releases, flash data from Eurostat showed Eurozone inflation remained at the European Central Bank's 2 percent target last month, bucking expectations of a slight fall.
Eurozone manufacturing moved closer to stabilization in the month, with the HCOB Eurozone Manufacturing PMI coming in at 49.8, up from 49.5 in June.
Elsewhere, U.K. house price...