European futures fall 1% as inflation worries sour global mood

European stock futures sank over 1% on Friday following Wall Street's losses overnight, while factory data from Asia underscored worries about slowing economic growth and rising inflation. Futures tracking Europe's top 50 firms were down 1.3% by 0600 GMT.

European stock futures sank over 1% on Friday following Wall Street's losses overnight, while factory data from Asia underscored worries about slowing economic growth and rising inflation.

Futures tracking Europe's top 50 firms were down 1.3% by 0600 GMT. Among regional markets, UK's FTSE futures dropped 0.9% and German DAX futures lost 1.1%. Data showed Asia's manufacturing activity was lackluster in September as signs of slowing Chinese growth and factory shutdowns caused by the coronavirus pandemic weighed on the region's economies.

Europe and U.S. manufacturing activity data as well as eurozone inflation readings will be released later in the day, with investors looking for clues of monetary policy outlook after major central bankers recently warned about elevated inflation. European stocks closed September with losses of 3.4%, it's worst monthly showing in almost a year. The benchmark STOXX 600 has fallen almost 4.5% from its mid-August record levels.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)