Eurozone downturn and US jobless surge hit markets - business live
by Graeme Wearden from on (#52W1A)
The euro area is suffering its worst contraction ever, as the French economy suffers its biggest plunge since the second world war
- Latest: 3.8m US initial jobless claims last week
- Eurozone economy shrank by 3.8% last quarter
- France in recession as GDP shrinks 5.8%
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5.23pm BST
Time for a recap...
A fresh flurry of grim economic data has confirmed that the global economy is falling into its worst contraction in decades, giving markets a jolt.
5.07pm BST
April was a good month for Europe's stock markets, despite a late wobble today.
The Stoxx 600 index gained 6.2% this month, its best monthly gain since October 2015 (after the Greek debt crisis finally eased). Germany's DAX gained over 9% this month.
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