European stocks slid as the possibility of a U.S. interest-rate increase as soon as next month outweighed upbeat comments about the world’s biggest economy. The Stoxx Europe 600 Index retreated 0.5 percent to 342.08 at 11:08 a.m. in London. A gauge of auto makers posted the biggest decline, while sliding oil prices dragged energy producers lower. The volume of shares changing hands today was 67 percent lower than the 30-day average as U.K. markets closed for a holiday. Stocks climbed on Friday after comments by Federal Reserve Chair Janet Yellen spurred optimism about the U.S. economic recovery, while she reiterated that the central bank will take a gradual approach to raising borrowing costs. Fed Vice Chairman Stanley Fischer subsequently indicated that a tightening is possible at the next review, sending U.S. equities lower. The probability of a September rate hike has jumped to 42 percent, with odds for a December move now at 65 percent. “Declines today have a lot to do with the aftermath of Jackson Hole and raised expectations of a rate hike this year, so that leads to a bit of adjustment in the market,” said Samy Chaar, a Geneva-based strategist at Lombard Odier, which manages about $170 billion. “If they manage to raise rates, that will be relatively good news but it does entail a little bit more tightening in the system.” European equities have swung between weekly gains and losses all month, with the Stoxx 600 trading in a tight range and struggling to find a direction after a rebound of as much as 12 percent following the aftermath of Britain’s secession vote. Among stocks moving on corporate news today, Alstom SA climbed 2.7 percent after winning a contract to design and build new high-speed trains for Amtrak.