India, May 22 -- The Indian rupee weakened against the U.S. dollar in the European session on Thursday.
Asian equities dropped following Wall Street, as investors were worried about the U.S. government's borrowing and budget deficit. Investors also reacted to increased geopolitical concerns, rising U.S. Treasury yields, and delayed trade discussions with partners.
In economic news, data from S&P Global showed that India's private sector activity expanded at the quickest pace in just over a year, spurred by strong foreign and domestic demand.
The HSBC composite output index rose to 61.2 in April from 59.7 in March. A score above 50.0 indicates expansion.
The manufacturing PMI rose marginally to 58.3 in May from 58.2 in the previous month...