The European trading session ended lower, with selling pressure dominating almost from the start. Germany’s DAX fell nearly 0.6%, France’s CAC40 declined about 0.8%, and the UK’s FTSE slipped more than 0.3%. German retail sales (seasonally adjusted, m/m) for July dropped by 1.5% versus expectations of -0.4% and the previous reading of 1%. On a non-seasonally adjusted basis, sales rose 1.9%, below the forecast of 2.6% and the prior 4.9%.
In the US, major indices are also under pressure in the final session of the week. The Nasdaq 100 (US100) is down more than 1.2%, with the US30 and US500 also losing ground. Technology shares are weighing on the market, led by sharp declines in semiconductors and software.
