NewsBreak: Europe Stocks Open Sharply Lower After Bleak U.S. PMI

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© Reuters. © Reuters. — Europe’s stock markets opened broadly lower on Wednesday, extending losses in the wake of a U.S. manufacturing survey that showed activity contracting at the fastest rate in 10 years. Sentiment was further depressed by reports that U.K. Prime Minister Boris Johnson’s plans to avoid a disorderly Brexit at the end of the month had been badly received by the EU.

“What is hard to argue with is that the global manufacturing sector is now very much in a recession. This now makes an already important Fed meeting later this month even more of a crucial risk,” said Deutsche Bank (DE:) strategist Jim Reid.

  • U.K. opens down 0.6%
  • opens down 0.5%
  • French opens down 0.4%
  • opens down 0.3%
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