Europe in the Doldrums – What Will Monday Bring?
European stocks across the board finished sharply down on Friday, in what has been the worst beginning to a financial year seen in a very long time.
The DAX slid 313 points, with the CAC dropping 141 and the FTSE100 falling 144 points. The FTSEMIB shed 607 points and the IBEX shaved off another 344 points, leaving the entire European board red at the close.
So what can we expect on Monday?
So far, Asian stocks are largely down in afternoon trade as global economic jitters continue. The Nikkei, Kospi, HSI and SENSEX are all in the red, increasing he likelihood that European stocks will see another dip in today’s session.
To make matters worse for Europe, stocks in the US tumbled Friday seeing the DJIA fall 390 points (2.38%) and the S&P finish 41 points (2.16%) lower. The US has seen over $1.2 trillion in stocks wiped out since the beginning of 2016.
Whichever way you look, major European trading partners are sliding steeply, and that means Europe goes with them. Expect today’s session to be red or flat across the board, with little positive happening in indices across the world.
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