European markets fell Wednesday with the investors' disappointment over the worse-than-expected Japanese growth data in July, another indication of the weakening global economic condition.

The French CAC 40 index declined 0.90 percent or 31.63 points to 3481.65. Shares of Peugeot SA fell 2.14 percent and shares of Vinci SA dropped 1.52 percent.

London’s FTSE 100 index was down 0.84 percent or 49.34 points to 5808.18. Shares of Evraz PLC fell 2.37 percent and shares of Fresnillo PLC were down 2.40 percent.

The German DAX 30 index fell 0.78 percent or 54.99 points to 7034.33. Shares of Daimler AG dropped 1.32 percent and shares of Commerzbank AG declined 1.17 percent.

Spain's IBEX 35 was down 1.79 percent or 135.30 points to 7409.20. Shares of Abengoa SA fell 3.95 percent and shares of Acciona SA declined 3.24 percent.

Japan reported Wednesday a return to trade deficit in July as compared to the surplus in the previous month with a decrease in the exports and an increase in the imports. The Finance Ministry data showed that the country recorded 517.4 billion yen ($6.5 billion) trade deficit in July, down from the 60.3 billion yen surplus in June.

Meanwhile, Greek Prime Minister Antonis Samaras has an official meeting scheduled with Eurogroup chief Jean-Claude Juncker in Athens, Wednesday. Talks are likely to focus on a delay in the fiscal adjustment, likely by two years as favored by Samaras.

The focus this week continues to be on Greece as a series of meetings will be held between its government and other European leaders to discuss in detail the austerity measures to be introduced in the country.

Market players sense that the policymakers in the euro zone urgently need to translate the European Central Bank (ECB) President Mario Draghi's statements of monetary easing measures into action. A re-launch of the ECB's bond-buying program is the absolute minimum to be expected.

“Notwithstanding the rather shrill denial by the ECB, on Monday, of any unlimited-intervention yield cap the market continues to trade on the assumption that Draghi’s anything necessary to save EMU speech will not be an empty promise,” Credit Agricole said in note.