European markets close lower as UK political chaos continues; retail stocks fall 3%

European markets closed lower on Friday as political chaos in the U.K. continued following the resignation of Prime Minister Liz Truss. Meanwhile, EU leaders debated how to tackle the bloc’s energy crisis as they met in Brussels, after Germany gave the green light for discussions around a price cap. The Stoxx 600 closed down 0.6%, with most sectors and major bourses in negative territory. Retail stocks led the losses, down 3% for the session. On Wall Street, stocks were mixed in choppy trading on Friday as investors assessed more corporate earnings reports and the outlook for Federal Reserve rate hikes. Shares in Asia-Pacific mostly closed lower overnight as investors weighed inflation data from several economies.