European stock markets fell on Monday as worries about a global economic slowdown intensified after new data showed the pace of decline in eurozone businesses was worse than expected in July. The HSOB Flash Eurozone Composite PMI, which covers around 2,000 firms from banks to cafes, dropped to 48.9 last month from 49.1 in June, below the 50 mark that separates growth from contraction and well below all forecasts in a Reuters poll which had predicted a dip to 49.3. The decline was broad-based, with the euro zone’s two biggest economies – Germany and France – both in contractionary territory … Continue reading Worsening Euro Zone Business Conditions Fuel Recession Concerns