The Stoxx Europe 600 fell for a fourth straight day, declining 1.5% to a 2013 closing low, amid more signs that the region's economy is slowing.

WSJ: Dow Finishes With Triple-Digit Drop

This decline in the anticipated first quarter EPS points to the effect of the European sovereign debt crises, slowing growth in the Asia-Pacific region and the weak economic environment in the U.S. In addition, the company faces increased pressure on its net income on account of higher pension contributions, which have increased as a result of historically low interest rates.

FORBES: FedEx Earnings To Show Weak Global Business Environment

SINGAPORE Asia so far has proved resilient to the European debt crisis and slowing global growth, and countries in the region have room to take growth-boosting steps in case of a sharp downturn, the International Monetary Fund said.

WSJ: IMF Says Asia Has Room for Stimulus

Economic activity among manufacturers in the central-Atlantic region contracted in June after months of slowing expansion, according to the Federal Reserve Bank of Richmond's manufacturing general-business index.

WSJ: U.S. Stocks Close Higher

Growth is slowing - that is the point, Mr Koehler said, adding that no region was picking up the slack.

BBC: IMF backs Turkey aid deal

It singled out slowing growth in China and India, two of the biggest economies in the region, as the main driver of the revision.

BBC: Asian Development Bank cuts growth forecast for Asia