Stock markets slumped on Wednesday as Germany's economy went into reverse, ...
and Paris FCHI lost between 0.8% and 1.5%. Wall Street futures gauges were also indicating losses of around 0.7%.
“The telling thing is that there is a delayed effect - traditionally you see a one-to-two-year lag before a recession. You could see it next year,” said Neil Wilson, chief markets analyst at Markets.com. The German figures - along with data showing the slowest growth for Chinese industrial output in 17 years that indicated faltering demand in the world’s second-largest economy - knocked the wind out the sails for stocks and gave rise to the angst over a slowdown.
“The trade war and the dispute between U.S. and China has already had an impact - especially when you look at countries most sensitive to global trade like Germany and even Italy,” said Christophe Barraud, chief economist and strategist at Market Securities in Paris.
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