Black Friday brings out discount-hunters across U.S., Europe

NEW YORK/LONDON/RALEIGH, N.C., Nov 24 (Reuters) – Shoppers took to stores across the world on a Black Friday that appeared to be subdued compared to prior years, looking for discounted electronics, clothing and household goods in the kickoff to the holiday shopping season crucial to big retailers. Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. Most major retailers slashed their seasonal hiring. A record 130.7 million people are expected to shop in stores and online in the U.S.…