Europe stocks set to open lower amid global downturn; earning season ramps up

LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus.

The U.K.'s FTSE 100 was last seen opening 19 points lower at 8,132 points, according to IG data, with Germany's DAX and France's CAC 40 down by 80 points and 45 points, respectively. Italy's MIB was seen dropping 289 points.Data will be released on German consumer confidence and euro zone and U.K. business activity, ahead of next week's euro zone gross domestic product second-quarter print.record their worst sessions since 2022.

"Markets saw a massive slump yesterday, as the combination of weak earnings and poor data hit investor sentiment," Deutsche Bank strategists said in a Thursday note. "That led to some very big losses, with the Magnificent 7 posting its worst day since September 2022, leaving it in technical correction territory after falling over -10% from its record just two weeks earlier."

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Stock futures are little changed as Wall Street looks to shake off Thursday's market slideThe Dow Jones Industrial Average fell more than 500 points on Thursday but is still up for the week.
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European stocks mostly weaken; sentiment hit by tech-led weakness on Wall StreetEuropean stocks mostly weaken; sentiment hit by tech-led weakness on Wall Street
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