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

A man stands in front of an electronic board showing stock information at a brokerage house in Hefei, Anhui province, in China.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.

Asian, European, and US stocks retreated on Thursday as disappointing economic data in Germany, France, and South Korea fanned fears of a global slowdown. The bad news tempered investor excitement after

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