FX.co ★ European Stocks Lower

Major stock indices across Europe saw declines on Thursday, with the STOXX 50 and STOXX 600 each dropping nearly 0.5%. This downturn follows renewed concerns regarding the US fiscal outlook, which has unsettled global market sentiment. Investors are maintaining a cautious stance as discussions continue over President Trump's tax legislation, with a vote potentially slated for today. The proposed tax bill is anticipated to increase the budget deficit by roughly $3 billion over the next decade. In Europe, focus has shifted to the flash PMI data expected from the continent's largest economies, scheduled for release this morning. In France, the data revealed a sustained contraction in private sector activity, extending to a ninth consecutive month of decline. On the corporate side, Generali experienced a 1.3% dip despite reporting stronger-than-anticipated profits. Similarly, easyJet's shares fell by 1.7%, as its quarterly losses exceeded forecasts, although the airline has reiterated its confidence in achieving its year-end market guidance.