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European stocks declined the most in more than two weeks as a measure of services and manufacturing output contracted, while concern mounted that the Federal Reserve will scale back its asset-purchase program.

Euro-area services and manufacturing shrank in February more than economists had forecast. A composite index of both industries in the 17-nation currency bloc fell to 47.3 from 48.6 in January, London-based Markit Economics said today. Economists had predicted a reading of 49, according to the median of 22 estimates in a survey. A reading below 50 means that activity contracted.

Several participants at the FOMC’s meeting “emphasized that the committee should be prepared to vary the pace of asset purchases, either in response to changes in the economic outlook or as its evaluation of the efficacy and costs of such purchases evolves,” according to minutes released after the close of European markets yesterday.

National benchmark indexes fell in every western-European market except Iceland. France’s CAC 40 declined 2.3 percent, while the U.K.’s FTSE 100 slid 1.6 percent. Germany’s DAX dropped 1.9 percent.

Safran decreased 3.1 percent to 34 euros. Europe’s second- biggest maker of aircraft engines has begun exploratory discussions with Avio, Chief Executive Officer Jean-Paul Herteman said on a conference call.

Axa SA retreated 3.1 percent to 13.27 euros as net income unexpectedly fell to 4.15 billion euros ($5.5 billion) in 2012 from 4.19 billion euros in 2011. That missed the 4.47 billion- euro average analyst estimate in a survey.

Swiss Re Ltd. gained 2.5 percent to 75.65 francs, its highest price since June 2008. Investors will receive a special dividend of 4 francs a share, plus an ordinary dividend of 3.50 francs, the insurer said. That exceeded the average forecast of eight analysts for a total payout of 6.21 francs a share. Fourth-quarter net income of $795 million beat the average analyst estimate of $240.3 million.

Schneider Electric SA climbed 2.3 percent to 56.67 euros after the world’s biggest maker of low- and medium-voltage equipment said revenue will rebound in 2013. The company added that net income rose 3 percent to 1.84 billion euros in 2012. The average analyst estimate had called for profit of 1.83 billion euros.

BAE Systems Plc jumped 4.1 percent to 345.9 pence, its biggest rally in more than five months. Europe’s largest arms company said it will buy back as much as 1 billion pounds ($1.5 billion) of shares over three years after reporting full-year earnings that fell less than analysts had predicted.

U.S. stock futures fell as more Americans filed for unemployment benefits last week and investors awaited a home sales report.

Global Stocks:

European stock indices show a decline due to the fact that market participants are worried that the Fed will turn off a program to purchase assets, which appear to have a negative incentive measures of the U.S. economy, despite the publication of the Fed minutes, which adds to the positive investor sentiment.

The focus of the market is a publication of statistical data on the index of producer prices, the U.S. labor market, as well as the Philadelphia Fed manufacturing index.

To date:

FTSE 100 6,300.86 -94.51 -1.48%

DAX 7,614.13 -114.77 -1.48%

CAC 3,653.78 -53.38 -1.58%

Axa SA shares fell by 3.1% due to the fact that the profits of the company up to 2012 is not exceeded analysts' estimates.

Market quotes Straumann Holdings AG fell 3.3%, the profit for the fourth quarter was worse than analysts' forecasts.

The market value of Swiss Re increased by 2% on the basis of information that the company will pay shareholders a special dividend of $ 2.8 billion

Asian stocks plunged, with a gauge of Chinese companies in Hong Kong erasing the year’s gains, amid concern the Federal Reserve may scale back U.S. economic stimulus and as China ordered increased property curbs.

Nikkei 225 11,309.13 -159.15 -1.39%

Hang Seng 22,906.67 -400.74 -1.72%

S&P/ASX 200 4,980.09 -118.62 -2.33%

Shanghai Composite 2,325.95 -71.23 -2.97%

Guangzhou R&F Properties Co. lost 2.4 percent in Hong Kong, pacing declines among Chinese developers.

BHP Billiton Ltd., the world’s biggest mining company, dropped 3.8 percent, the most since May, on concern that global demand will decrease if policymakers reduce stimulus.

Asian stocks rose for a third day, with the regional benchmark index extending an 18-month high, amid signs the global economy is recovering.

Nikkei 225 11,468.28 +95.94 +0.84%

Hang Seng 23,307.41 +163.50 +0.71%

S&P/ASX 200 5,098.71 +16.82 +0.33%

Shanghai Composite 2,397.18 +14.26 +0.60%

South Korea’s Kospi Index led benchmark gauges higher after Bank of Korea Governor Kim Choong Soo said the world economic outlook is improving.

Tokyo Electric Power Co. led Japanese utilities higher.

BHP Billiton Ltd., the world’s largest mining company, fell 0.9 percent in Sydney after reporting a 58 percent drop in first-half profit.

Woodside Petroleum Ltd., Australia’s second-biggest oil and gas producer, added 3.1 percent after full-year profit almost doubled.

European stocks retreated from a three-week high as commodity producers declined and companies from Deutsche Lufthansa AG to RSA Insurance Group Plc cut their payouts to shareholders.

Negative data was caused by volume of construction in the EU, as well as data on car sales, which were published yesterday. Sales of passenger cars in the European Union in January 2013 fell to a record low. European automakers association ACEA said on Tuesday, February 18, that the first month of sales decreased by 8.7 percent compared to the same period last year to 885,159 new cars. January is the lowest figure since 1990, when the ACEA began keeping such records.

Positive news came from Greece, where the current account deficit of the balance of payments for 2012. declined by 73% year on year and reached the lowest level since the country's accession to the eurozone. Influence it reduce imports and reduced rates on sovereign debt.

Germany's DAX was down on the record CPI and HICP Germany, which rose by 1.7% y / y (vs. 1.9% previously), in line with the forecast. PPI rose 1.5% to 1.7% falling to 1.2%, and on a monthly basis rose by 0.8% (+0.3% expected).

France's CAC 40 fell, despite the restoration of the French business climate index. French business climate index unexpectedly rose from 87 (revised from 86) to 90 in February, and the HICP fell 0.6% m / m and up 1.4% y / y (vs. 1.5%), not short of projections.

Britain's FTSE 100 rose protocol IFA. Bank of England voted to King expansion QE, but was in a minority (6-3).

National benchmark indexes gained in 10 of the 18 western- European markets. Germany’s DAX declined 0.3 percent, while France’s CAC 40 slid 0.7 percent. The U.K.’s FTSE 100 climbed 0.3 percent.

BHP Billiton slipped 2.4 percent to 2,183.5 pence after the world’s biggest mining company reported a 58 percent decline in first-half profit and appointed Andrew Mackenzie as its new chief executive officer. Mackenzie, who takes over on May 10, was head of its copper unit.

Lufthansa dropped 6.2 percent to 15 euros after Europe’s biggest airline by sales canceled its dividend for 2012. The company made a payout of 25 euro cents a share for 2011.

Lafarge jumped 5.5 percent to 49.27 euros. The world’s biggest cement maker said fourth-quarter earnings before interest, taxes, depreciation and amortization rose to 856 million euros ($1.1 billion), beating the average analyst estimate of 821.6 million euros.

Credit Agricole SA rose 3.9 percent to 7.61 euros after saying it plans to reduce costs by 650 million euros by 2016. France’s third-largest bank said in a web presentation it expects to cut costs by 650 million euros by 2016 through information-technology resources, real estate and procurement.

U.S. stocks fell, slipping from five-year highs, as minutes from the Federal Reserve’s last meeting showed a debate over further stimulus action.

Minutes of the Federal Open Market Committee’s Jan. 29-30 meeting released today showed policy makers were divided about the strategy behind Chairman Ben S. Bernanke’s program of buying bonds until there is “substantial” improvement in a U.S. labor market burdened with 7.9 percent unemployment.

Some said an earlier end to purchases might be needed, and others warned against a premature withdrawal of stimulus. Several policy makers said the central bank should be ready to vary the pace of their $85 billion in monthly bond purchases.

After the discovery of a negative impact on the dynamics of trading reflected data on the index of consumer confidence in the eurozone. The index value, though improved in February (from -23.9 to -23.6), but it turned out worse than expected (-23.1). After yesterday's data from the ZEW, many hoped that today's data will record a significant improvement in consumer sentiment.

Most of the components of the index DOW finished trading in the red (24 of 30). Lost more than 3% shares Bank of America Corporation (BAC, -3.20%) and Alcoa, Inc. (AA, -3.31%). Leader was led Merck & Co. Inc. (MRK, +1.04%).

All sectors of the S & P showed a negative trend. More than other basic materials sector declined (-2.2%).

Quotes biotechnology company Chelsea Therapeutics International soared 152% on news that U.S. regulators are allowed to reapply for permission to sell the drug Northera in the market.

Shares of American developer Toll Brothers fell by 9.1% after the publication of quarterly results - profit was below analysts' forecasts.

At the close:

S & P 500 1,511.95 -18.99 -1.24%

NASDAQ 3,164.41 -49.18 -1.53%

Change % Change Last

Nikkei 225 11,468.28 +95.94 +0.84%

Hang Seng 23,307.41 +163.50 +0.71%

S&P/ASX 200 5,098.71 +16.82 +0.33%

Shanghai Composite 2,397.18 +14.26 +0.60%

CAC 40 3,709.88 -25.94 -0.69%

DAX 7,728.9 -23.55 -0.30%

S&P 500 1,511.95 -18.99 -1.24%

NASDAQ 3,164.41 -49.18 -1.53%

Dow 13,927.54 -108.13 -0.77%