Markets Are Tumbling After A Wave Of Ugly Data

European stocks are in the red early Thursday after a wave of disappointing economic data.

Here’s the scoreboard:

Britain’s FTSE 100 is down 0.6%.

France’s CAC 40 is down 1.0%.

Germany’s DAX is down 1.0%.

Spain’s IBEX is down 1.8%.

Italy’s FTSE MIB is down 1.8%.

Chinese export growth missed expectations in June, Italy’s industrial production fell by an unexpected 1.2% in May, France inflation and production numbers were much worse than expected, and Japan posted a record 20% drop in machine orders in May.

Japan’s Nikkei closed down 0.56%, while Hong Kong’s Hang Seng is up 0.27%.

Trouble at the biggest Portuguese bank, Espirito Santo, is causing a surge in the country’s interest rates. Portugal’s PSI 20 is tumbling, down 3.36%. Here’s a look at what’s happening from Bloomberg:

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