The US might be trying to put in a recovery but Europe isn’t having any of it
Watching stocks today, you’d think that the quick jump in US equities from their opening levels would have dragged Europe up with them. The fact that hasn’t happened is not a good sign. European stocks closed well down.
- FTSE -2.64%
- CAC -2.35%
- DAX -2.32%
- FTSE MIB -2.08%
- IBEX -2.53%
Largely, markets feed off each other. US dropped yesterday, leading to EU dropping, leading to Japan dropping, leading to EU dropping again… you get the picture. The fact that they haven’t bounced as US stocks rose is potentially a very worrying signal. The US close today will be important. If stocks finish up, that relieves some fear preassure but if Japan doesn’t follow, and has another bad day, that could spark further risk aversion through tomorrow’s EU and US sessions.
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