Stocks in Europe and Asia Decline; U.S. Index Futures Retreat

April 14 (Bloomberg) -- Stocks dropped in Europe and Asia after Royal Philips Electronics NV reported profit slumped 75 percent and the Group of Seven finance ministers said global economic prospects have weakened. U.S. index futures retreated.

Philips, Europe's largest consumer-electronics maker, declined after saying television prices fell in the U.S. KDDI Corp. sank in Tokyo as full-year profit missed its target. Wachovia Corp. slipped in Germany after bringing forward its earnings announcement. British Airways Plc led airlines lower as Morgan Stanley recommended selling the shares, while ABB Ltd. decreased in Zurich after Lehman Brothers Holdings Inc. downgraded the world's biggest builder of power networks.

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