World stocks are slumping as bad economic data point to a global slowdown

  • Asian, European, and US stocks retreated on Thursday morning as markets digested disappointing economic data out of Germany, France and South Korea.
  • South Korea’s economy shrunk 0.3% in the first quarter, while German business sentiment and French manufacturing confidence both weakened in April.
  • “The cautious mood from Asia is likely to roll over into Europe, and possibly Wall Street this afternoon, as investors adopt a guarded approach to riskier assets,” said Lukman Otunuga, research analyst at FXTM.

Source: World stocks are slumping as bad economic data point to a global slowdown

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