European markets have fallen for three straight days and were set to start Friday lower.
European markets were set to open lower Friday amid recession warnings, expectations for further rate hikes and continued volatility in the energy market.
The U.K.'s FTSE 100 was down 35 points, Germany's DAX about 125 points and France's CAC 40 by 54 points. European stocks have seen three days of losses, particularly denting energy and technology shares. However, banking stocks gained yesterday after Morgan Stanley analysts upgraded the sector.
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