European stocks and Wall Street equity futures trended lower on Friday after US social media group Snap blamed tough macroeconomic conditions for bleak quarterly results, sparking fears for the ongoing corporate earnings season.
The regional Stoxx 600 share index edged down 0.2 per cent in early trades. Futures contracts tracking Wall Street’s technology-heavy Nasdaq 100 index lost 0.7 per cent, while those on the wider S&P 500 equity gauge fell 0.3 per cent.
The euro slipped 0.4 per cent against the dollar to just under $1.02, despite the European Central Bank implementing its first interest rate rise in 11 years on Thursday, as investors queried the effectiveness of a new tool to safeguard indebted nations such as Italy from rising borrowing costs.