Europe stocks close 2.2% lower amid global downturn as volatility index spikes to Covid-era high
www.cnbc.com
European stocks fell sharply at the start of the new trading week, while the VIX volatility index spiked to a Covid-era high.
  • DogPeePoo@lemm.eeEnglish
    22·
    3 months ago

    Oh no! Must be time to print more money soon and then hang the albatross on taxpayers’ necks again.

    Again, again.

  • Imperor@lemmy.worldEnglish
    16·
    3 months ago

    Been waiting for a second 2008 for years. Can’t help but feel this ain’t quite it yet. But we will see when US opens later today. Maybe they will finally allow it all to implode before elections in the US, so people will have forgotten about it by then.

    • leisesprecher@feddit.orgEnglish
      17·
      3 months ago

      My bet would be tech/AI. It’s becoming increasingly obvious, that hypergrowth is not possible anymore and all the new fancy toys like crypto, VR and AI don’t go to the moon as expected and all the trillions of investments will be stranded.

      If the disinvestment is quick enough, it might pull the entire economy down with it.

  • Melchior@feddit.orgEnglish
    12·
    3 months ago

    Honestly this is probably not going to hit the EU too badly. The big laggered in the EU is Germany, who can easily spend its money out of a recession. It would be smart to spend the money anyway, so good news. For the rest of Europe we just had a crisis due to Ukraine and that already caused some problems. However it means falling inflation, due to falling energy prices and hence the option to lower rates, which many other regions do not have.

    China and the US are in a worse spot though. China trades a lot with Japan and SK, which seem to be the center of this and China is already in trouble due to a massive housing crisis and low local demand. With the export market being closed to China by the US and EU this is a problem.

    The US will do a bit better, but there is a massive bubble in tech stocks. It might hurt Elon though, which is great news.

    This has a good site for Europe though. The oil price is at $75 for Brent. This is going to hurt the Russian economy badly, which obviously is good for Ukraine and peace is great for Europe in general.

    • Tryptaminev@lemm.eeEnglish
      2·
      3 months ago

      I just read a German article warning that the oil-price could increase, but that a decrease would also be bad…

      It seems like after 2008 all we did was pile even more cards on top of the fragile house, to make sure the next collapse will be even bigger.