On Thursday European stocks fell for a third day as data from Japan to Germany added to evidence that global growth is slowing while speculation cooled that Federal Reserve Chairman Ben S. Bernanke will announce more stimulus. U.S. index futures and Asian shares retreated.
Daimler AG and Fiat SpA led a selloff in carmakers as Morgan Stanley said earnings in Europe are at risk.
The benchmark Stoxx Europe 600 Index slipped 0.5 percent to 265.57 at 11:21 a.m. in London, extending this week’s decline to 0.9 percent. The measure has still advanced 14 percent from its June 4 low amid speculation that central banks will do more to bolster growth.
In Europe, German unemployment increased for a fifth straight month in August while economic confidence in the euro area fell more than economists forecast to a three-year low.
The Fed said late on Wednesday in its Beige Book business survey that the economy continued to expand “gradually,” damping speculation Bernanke will announce a third round of bond purchases.
Japanese shares fell, with the Nikkei 225 Stock Average falling to a two-week low, after U.S. economic growth damped speculation Federal Reserve Chairman Ben S. Bernanke may announce a third round of quantitative easing. Stocks also fell as Japan’s retail sales sank more than expected. The Nikkei 225 slid 1 percent to 8,983.78 at the 3 p.m. close in Tokyo, the lowest since the 15th August while the Topix Index lost 0.8 percent.
Brazil’s central bank signaled a yearlong easing of interest rates may have come to an end as record low borrowing costs start to revive the economy.
Worldwide market demand for silver is growing, while supplies of silver are quickly disappearing. New high-tech uses for silver will further strain already-tight supplies in the future. World demand for silver now exceeds annual production and has every year since 1990, depleting above-ground stockpiles of silver.