European Stocks Decline, France’s CAC 40 Slides Into Correction
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European stocks retreated following a slate of disappointing earnings and weak US data that raised worries about the health of the broader economy. France’s CAC 40 benchmark entered a technical correction.
The Stoxx Europe 600 Index tumbled 1.2% by the close, its biggest one-day slide in seven weeks, as data showed US manufacturing activity shrank by the most in eight months in July. The CAC 40 index sank 2.1% Thursday, bringing total declines since a May record high to over 10%.