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European equities and US futures dropped on Thursday, fueled by rising fears of a German recession and worrisome developments across Hong Kong, Italy, and Argentina.
Asian markets rallied earlier on renewed hopes for an end to the US-China trade war.
“The delay to tariffs looks more like a temporary reprieve for domestic reasons rather than a genuine signal of willingness to talk with China,” one analyst said.
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European equities and US futures dropped on Thursday, fueled by rising fears of a German recession and worrisome developments across Hong Kong, Italy, and Argentina. Asian markets rallied earlier on renewed hopes for an end to the US-China trade war.

Germany shrunk 0.1% in the second quarter, a sharp swing from first-quarter growth of 0.4%. The contraction reflected weakness in its auto industry, concerns about the UK’s departure from the EU, and the toll of the US-China trade war on its export-focused manufacturing sector, according to the Financial Times.

“The risk of a recession is now elevated,” Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said in a morning note.

Germany’s bad news came after Argentina’s currency, stock market, and government bonds plummeted on Tuesday following an election upset.

Italy …read more


Source:: Businessinsider – Finance

      

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