Europe Markets Closing Report | Thursday, May 5, 2022:
Source: cnbc.com European stocks close lower after Wall Street sell-off; BOE warns of recession risks; Airbus jumps 6% Elliot Smith 2 minutes LONDON — European markets closed lower Thursday, despite being higher for much of the session, as traders weighed warnings from the Bank of England and a heavy sell-off in the U.S. Stock picks and investing trends from CNBC Pro: In its updated forecasts, the Bank highlighted the looming recession risk for the world's fifth-largest economy. The BOE said it now expects gross domestic product to contract in the final three months of the year, partly reflecting the projected large hike in household energy bills in October. The war in Ukraine also remains on investors' radar. Russian forces have reportedly renewed their assault on the Azovstal steelworks complex, a last stronghold for Ukrainian fighters in the southern port city of Mariupol. Meanwhile, the EU has