\n<\/p>\n
European stocks are set to open lower on Thursday after U.S. stocks fell the most in more than 18 months overnight, led by steep declines for technology<\/span> stocks. <\/p>\n However, gains in U.S. equity futures may help limit losses after IBM’s second-quarter results surpassed revenue and earnings expectations.<\/p>\n On the contrary, Ford shares fell sharply in extended trading after the carmaker reported second-quarter earnings far below analysts’ expectations.<\/p>\n American Airlines and Honeywell are among the companies due to report their quarterly results before the U.S. opening bell later today. <\/p>\n In economic releases, trading later in the day may be impacted by reaction to reports on durable goods orders, jobless claims and second quarter GDP.<\/p>\n An inflation reading on Friday and a Federal Reserve meeting next week also remain on investors’ radar after former New Federal Reserve President Bill Dudley called for the Fed to cut rates now to avoid a recession. <\/p>\n The U.S. yield curve steepened sharply, signaling that the Fed might cut rates faster and deeper than previously anticipated. <\/p>\n Gold dropped below $2,400 per ounce while oil prices fell nearly 1 percent in Asian trade on concerns over weak demand in China, the world’s largest crude importer.<\/p>\n Asian markets<\/span> followed Wall Street lower, with benchmark indexes in Australia, New Zealand, South Korea and Hong Kong falling over 1 percent. <\/p>\n As growth concerns mount, China’s central bank today unexpectedly cut a key policy rate and interest paid on bank deposits.<\/p>\n Japan’s Nikkei average was down nearly 3 percent as the dollar fell to its lowest in more than two months against the yen amid growing bets for a hawkish stance at next week’s Bank of Japan meeting.<\/p>\n France July business<\/span> confidence survey results and the release of Germany’s July Ifo business climate index may influence trading sentiment later in the day. <\/p>\n U.S. stocks fell the most in more than 18 months overnight as disappointing earnings from Tesla and Alphabet fueled concerns the frenzy around artificial intelligence technology might be overblown.<\/p>\n In economic news, data showed new home sales fell to a seven-month low in June.<\/p>\n The tech-heavy Nasdaq Composite plummeted 3.6 percent to reach its lowest closing level in over a month, while the S&P 500 slumped 2.3 percent and the Dow tumbled 1.3 percent.<\/p>\n European stocks closed lower on Wednesday as investors reacted to a deluge of earnings and data showing business activity in the eurozone slowed further in July.<\/p>\n The pan European STOXX 600 dropped 0.6 percent. The German DAX shed 0.9 percent, France’s CAC 40 lost 1.1 percent and the U.K.’s FTSE 100 eased 0.2 percent. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n