FX.co ★ European Markets Head for Lower Open

European stock markets were expected to open lower on Thursday, reflecting a downturn in global markets as growing concerns over the US fiscal outlook dampened investor confidence. In premarket trading, futures for both the Euro Stoxx 50 and Stoxx 600 were down by 0.7% and 0.6%, respectively. Investors were unsettled by President Donald Trump's proposed budget plan, which suggests substantial tax cuts that are anticipated to increase the US national debt by over $3 trillion. This potential rise in financial instability in the world's largest economy has sparked a widespread risk-averse sentiment across international markets. Additionally, traders are closely monitoring preliminary Purchasing Managers' Index (PMI) readings from key eurozone countries to gain new insights into the region's economic performance. Corporate earnings reports from major companies such as EasyJet, BT Group, and British Land are also in the spotlight.