European stocks fell on Thursday to extend losses from the previous session, as Federal Reserve chair Jerome Powell acknowledged the possibility of a recession and data showed business activity in the eurozone slid to its lowest level in 16 months in June.
The flash June composite purchasing managers index - which combines data from the currency bloc's service and manufacturing sectors - slumped to 51.9 from 54.8 in May, S&P Global said.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.