(MENAFN- AFP) European and Asian stock markets slid Friday on reinforced concerns about the global growth outlook after data showed the US economy has expanded at its slowest pace for two years.
It comes in a week during which the Bank of Japan decided against boosting stimulus to support its country's own flagging economy.
Around 1015 GMT, Europe's main stock markets were lower, despite official data Friday showing that growth in the eurozone strengthened far beyond expectations in the first quarter, as traders focused on deflation worries across the single currency bloc.
"With a weak lead from US markets in which the Dow Jones fell one percent (Thursday) for the first time in two months... European markets dropped" heading into the weekend break, said Jasper Lawler, analyst at trading group CMC Markets.
"US stocks look set for a higher open, helped by strong technology company earnings from Amazon and LinkedIn which have caused a disproportionate boost to the Nasdaq," he added.
The US Commerce Department said Thursday that the world's number one economy grew 0.5 percent in January-March, almost half the pace expected, and the worst reading since 2014 as consumer spending sputtered.
The news seemed to justify the Federal Reserve's decision earlier this week not to raise interest rates and to lower its expectations for any more hikes this year.
Also this week, the Bank of Japan held fire on monetary policy despite slack Japanese growth, falling prices and a deadly earthquake that caused the closure of factories.
On Thursday, US shares ended sharply lower, driven also by news that investor tycoon Carl Icahn had liquidated his Apple stocks owing to concerns China would thwart its efforts to sell more iPhones and other gadgets in the country.
Apple "is after all considered a barometer for global growth and innovation", noted Mike van Dulken, head of research at Accendo Markets.
- Key figures around 1015 GMT -
London - FTSE 100: DOWN 0.6 percent to 6,285.71
Frankfurt - DAX 30: DOWN 1.0 percent at 10,214.44
Paris - CAC 40: DOWN 1.4 percent at 4,491.62
EURO STOXX 50: DOWN 1.2 percent at 3,087.75
Hong Kong - Hang Seng: DOWN 1.5 percent at 21067.05 (close)
Shanghai - Composite: DOWN 0.3 percent at 2,938.32 (close)
Tokyo - Nikkei 225: Closed for a public holiday
New York - Dow: DOWN 1.2 percent at 17,830.76 (close)
Euro/dollar: UP at $1.1388 from $1.1354 Thursday
Dollar/yen: DOWN at 107.07 yen from 108.11 yen
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