Originally Posted by
Bjauck
European sell off - German Dax and British Ftse100 down by over 3%.
"An interesting reading from the Ifo Institute in Germany: its widely followed business climate indicator has actually beaten expectations – a reminder, perhaps, that the much of the coronavirus’s financial effects so far are down to fear, uncertainty and doubt.
The Ifo’s business climate reading came in at 96.1 points, compared with a Reuters consensus forecast for a fall to 95.3. The institute is sticking to its first-quarter growth forecast of 0.2%. Ifo president Clemens Fuest said in a statement:
The German economy seems unaffected by developments surrounding the coronavirus." The Guardian
- so not all doom and gloom in Europe this morning.
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