Hey everyone, Happy Thanksgiving day!
It is really unfortunate of me to announce that a few hours ago, European stocks and oil fell as concerns over the global economic outlook and its impact on the coming corporate earnings season weighed on investor sentiment. It appears that the World Bank has cut its estimate for East Asian growth including China, thus has undone some of the positive sentiment that followed a sharp drop in U.S. unemployment for September.
In Europe investors are also focused on a meeting of euro zone finance ministers later. They will formally launch the region’s new permanent bailout fund and are expected to discuss the problems facing Spain and Greece. But they are not expected to make major progress in solving the debt crisis so German government bond futures were ticking higher in early trade.The signs of strength in Europe’s biggest economy failed to help to the euro which was down 0.4 percent at $1.2975.
The slow global growth would reduce investments in corporate firms globally. This would definitely slow progress in rebuilding Europe’s economy. unemployment would remain high, while economic stability is threatened.
the article can be found here