European stocks headed for their biggest weekly fall since December on Friday, extending losses as weak China trade data and German industrial orders tightened bears' grip on the market, confirming a sharp global economic slowdown.
The STOXX 600 fell 0.5 per cent by 0831 GMT, on track for its biggest weekly fall since December 21, when a sharp sell-off was sweeping global markets.
Euro zone bank stocks had led falls on Thursday, when the European Central Bank cut its growth forecasts and pushed out an interest rate hike.
They dropped again on Friday, while basic resources fell 1.4 per cent and automobile stocks tumbled 1.6 per cent after China reported its biggest drop in exports in three years and German industrial orders unexpectedly fell. Germany's DAX was down 0.6 per cent.
Company news provided no silver linings, with results roundly disappointing investors.
Swiss industrial machinery firm, the VAT Group, tumbled 4.6 per cent after it reported lower full-year earnings than expected and a weaker guidance for 2019.
EssilorLuxottica shares fell 4.4 per cent after the merged eye-wear group's maiden set of results disappointed investors.
Deutsche Bank shares fell 0.5 per cent, slightly outperforming the market, and Commerzbank rose 1 per cent after Focus magazine reported their chief executives have resumed talks over a potential merger.
British gambling firm GVC Holdings sank 12.6 per cent to the bottom of the STOXX after its CEO sold 2.1 million shares in the company.