The pan-European STOXX 600 index (.STOXX) traded 0.7% lower, while France's CAC 40 index (.FCHI) dropped 1.3%. Shares in TF1 (TFFP.PA) fell 3.2% and M6 (MMTP.PA) declined 4.5% after merger plans between the French TV companies collapsed, as they noted antitrust requests had made the deal irrelevant. Most market participants expect the U.S. central bank to deliver a third straight 75 basis point hike. "Investors seem to be worried about the upcoming central bank meetings," said Patrick Armstrong, chief investment officer at Plurimi Wealth. European markets closed their worst weekly performance in three months on Friday on escalating recession worries amid aggressive central bank tightening.

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