Cocktail of poor data sinks European stocks further

LONDON - European stocks were heading for their biggest weekly fall since December on Friday, extending losses as weak China trade data and German industrial orders tightened bears’ grip on the market, confirming a sharp global economic slowdown.

Euro zone bank stocks had led falls on Thursday when the European Central Bank cut its growth forecasts and pushed out an interest rate hike. Falls in European shares were muted compared to the 4 percent drop in Shanghai stocks after a blistering rally.

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