European stocks struggled to gain traction on Thursday, while bonds fell as activity surveys indicated that a eurozone recession is becoming more likely.
According to the data, S&P Global's purchasing managers' index fell again in November, reaching 47.1. While this is a larger increase than economists expected, it is the sixth consecutive month below the 50 level that indicates expansion.
The euro and yen gained ground as the dollar gave up its gains from Wednesday. The 10-year yield in Germany increased by more than three basis points.
Equity futures in the United States were little changed. Due to the Thanksgiving holiday, there is no Treasury cash trading on Thursday, and Japanese markets are also closed.
