World stocks tumble on weak economic data from China and Europe
French business activity plunges into contraction, retreating at the fastest pace in more than four years due to anti-government protests; sterling’s rally fizzles on signs of Brexit deadlock
London — Stocks worldwide tumbled on Friday after weak economic data from China and Europe fanned concerns of a global economic slowdown and left investors fretting over the wider impact of a still-unresolved US-China trade dispute. The MSCI All-Country World Index, which tracks stocks across 47 countries, was down half a percent. Eurozone business ended the year on a weak note, expanding at the slowest pace in more than four years as new order growth all but dried up, hurt by trade tensions and violent protests in France, a survey showed. Europe Another survey showed French business activity plunging unexpectedly into contraction this month, retreating at the fastest pace in more than four years in the face of violent anti-government protests. Germany’s private-sector expansion slowed to a four-year low, meanwhile, suggesting growth in Europe’s largest economy may be weak in the final quarter. The data out of Europe added to weak readings from China, where November retail sales gre...
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