07:50 AM EDT, 05/19/2025 (MT Newswires) -- European bourses tracked lower midday Monday after credit agency Moody's Ratings lowered its rating on US debt late Friday, and after China issued tempered April reports on retail spending and factory spending early Monday.

Property, tech and retail issues led decliners on the continent, while food stocks held firm.

Investors also eyed Wall Street futures signaling red, and lower closes overnight on Asian exchanges.

In economic news, the euro area gross domestic product (GDP) will expand by 0.9% in 2025, less than the previous estimate of 1.3%, estimated the European Commission in its spring economic outlook. The uncertain imposition of trade tariffs by the US was cited for the lowered forecast.

The pan-continental Stoxx Europe 600 Index was off 0.6% mid-session.

The Stoxx Europe 600 Technology Index was off 1.1%, and the Stoxx 600 Banks Index lost 0.8%.

The Stoxx Europe 600 Oil and Gas Index was off 0.9%, but the Stoxx 600 Europe Food and Beverage Index was flat.

The REITE, a European REIT index, fell 1.2%, and the Stoxx Europe 600 Retail Index declined 1.1%.

On the national market indexes, Germany's DAX was down 0.1%, and the FTSE 100 in London was down 0.5%. The CAC 40 in Paris was off 0.8%, and Spain's IBEX 35 lost 0.3%.

Yields on benchmark 10-year German bonds were higher, near 2.64%.

Front-month North Sea Brent crude oil futures were down 1.1% to $64.60 per barrel.

The Euro Stoxx 50 volatility index was up 9.7% to 17.95, but still indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.