Worries over the world economy and the outlook for banks beget sent global stock markets tumbling againWall Street opens lowerEuropean markets hit by growth fearsGreek stock market plungesOil falling againGlobal economy on the brink’ as investor sentiment shrinks
Deutsche Bank being hit hard 5.53pm GMTThere seems little justification for the day’s slump in banking shares,said Laith Khalaf, senior analyst at Hargreaves Lansdown:Markets are clearly worried approximately a global economic downturn at a time when central banks beget little dry powder left to fight off recessionary forces. The tables were turned in the UK stock market nowadays with recent winners suffering from profit-taking, or while the miners were virtually the only stocks to withhold their heads above water.
The collapse in the oil price has been a big shock to the financial system and its effects are still being absorbed by international stock markets,in particular the implications for global demand. Financials beget been really badly hit of late, and in a sign of how dire things beget got, or some European banks are trading lower than they did during the depths of the financial crisis. There doesn’t seem to be much justification for such a dismal outlook,but markets appear to be stuck in a negative feedback loop at the moment. 5.43pm GMTGlobal stocks beget already lost over $6 trillion in 2016. https://t.co/ZazY14GvN2 pic.twitter.com/1OFqG8Pd8gContinue reading...
Source: theguardian.com