Gold

European Shares Drop, Gold Recovers

Some leaving European markets for the U.S. and Asia

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(Reuters)—European shares dropped sharply on Wednesday as investors switched to stronger markets in the United States and Asia, where economic growth prospects are brighter due to massive central bank stimulus.

Expectations of further support from the U.S. Federal Reserve and the Bank of Japan amid signs of weak inflation also helped gold to recover from its lowest level in over two years hit on Tuesday after three days of heavy selling.