What economic data caused global equity markets to pause?

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Bleak Non-US Economic Data Led to a Pause in Global Equity Markets

Global equity markets experienced a pause in their upward trajectory due to a series of weak economic indicators from outside the United States. This downturn in international economic sentiment led to a retreat from riskier assets, prompting a steadier performance in the US dollar as a safe haven. The prevailing mood in financial markets became more somber, with major US indices and Treasury yields also declining.
UK Retailers Faced Challenges in December

Data from the United Kingdom indicated that British retailers encountered difficulties in achieving a recovery during December. This suggests a subdued consumer environment and potential headwinds for the UK economy in the latter part of the year.
Euro Zone Economic Activity Contracted Sharply in January

Economic activity within the euro zone experienced a significant contraction in January. This downturn was primarily attributed to the imposition of stringent lockdown measures aimed at curbing the coronavirus pandemic, which severely impacted the region's vital service industry.
Japanese Manufacturing Entered Contraction and Services Showed Pessimism

Recent data from Japan revealed a contraction in factory activity in January. Furthermore, the services sector in Japan exhibited increased pessimism, reflecting a dampened sentiment due to emergency measures implemented to combat a resurgence of Covid-19 cases.

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What economic data caused global equity markets to pause?

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