European markets opened lower on Thursday. The British FTSE was last trading 0.48 percent lower. French CAC was trading 0.25 percent in the red, while the biggest European market by volume, German DAX was down 0.40 percent.

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The Wall Street indices ended lower in the previous session. Dow ended 0.57 percent lower, while S&P and Nasdaq closed 0.7 and 1.06 percent lower, respectively. The indices were under pressure after stronger-than-expected services sector data fueled concerns of interest rates staying higher.

The European markets are also taking cues from their Asian counterparts. Japan's Nikkei was last trading 0.7 5 percent lower, while China's Shanghai Composite was trading 1.13 percent lower at the last count. Hong Kong's Hang Seng was trading 1.28 percent lower.

China’s exports declined at a slower pace in August, even as the world’s second-biggest economy remains under pressure from weaker demand both domestically and abroad. Exports for August slumped 8.8 percent from the same time last year, totaling $284.87 billion, and were slower than the 14.5 percent last month, according to customs data Thursday.

Crude oil prices fell on Thursday. At the last count, Brent crude oil was trading 0.28 percent lower at $90.35 per barrel. WTI prices, too, were trading 0.4 percent lower at $87.18 per barrel.

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First Published:Sept 7, 2023 1:12 PM IST