The Eurozone's industrial sector took a deeper plunge into recession in September, with the Purchasing Managers' Index (PMI) falling to 45.0 from 45.8 in August, according to S&P Global. A PMI below 50 signals contraction, and the drop highlights accelerating declines in production, new orders, employment, and purchasing volumes. Stocks also continued to deplete, while business expectations hit a 10-month low.

Germany's manufacturing woes deepened too, with its PMI slipping to 40.6, the lowest in a year. Companies face heightened uncertainty over demand, geopolitical tensions, and economic conditions, which led to negative outlooks for the first time in seven months. With this sharp decline, pressure is mounting on the European Central Bank to lower interest rates more quickly to support the faltering economy.