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Stocks are deteriorating in the European trading session.England’s FTSE 100 is down 0.62%.
France’s CAC 40 is down 0.63%.
Germany’s DAX is down 0.41%.
Spain’s IBEX is down 1.10%.
Italy’s FTSE MIB is down 1.31%.
Spain just wrapped a up a debt auction which went smoother than expected. However, it was not enough to offset concerns raised by new manufacturing reports.
Earlier this morning, we learned that manufacturing output fell to a 39-month low in the eurozone.
China also registered another sub-50 HSBC Flash manufacturing PMI number. which means the industry is contracting. Output hit a 10-month low.
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