European shares fell sharply on Friday, tracking a drop in Asian equity markets and U.S. stock futures after a survey showed Chinese factories contracted at their fastest pace since the global financial crisis in 2009.
The pan-European FTSEurofirst 300 .FTEU3 was down 1.6 percent at 1,453.62 by 0703 GMT, hitting its lowest level since January and set for its biggest weekly fall of the year.
The Caixin/Markit manufacturing index showed activity in China’s factory sector shrank at its fastest pace in almost 6-1/2 years in August as domestic and export demand dwindled. Coming on the heels of weaker-than-expected data in July, it stoked fears of a slowdown in the world’s second-biggest economy.