On Monday, the 12th of August 2019, a gauge of European stock indices had wrapped up the day lower, while financials were leading the downfall as a chorus of monetary policy easing and a cascade of interest-rate cut by leading economies had reinforced worries that the global economy had been just a notch shy of an inevitable recession.
Aside from global growth worries, worsening of a year-long Sino-US trade war entering into its second year with little or no possibilities of an unencrypted resolution in the cards, had spurred nerve-wracking worries among investors all over the world and forced the traders to seek for safe-haven assets likes of gold or bonds.
Besides, worsening protests in Hong Kong alongside a crash in Argentine peso added further strains over a scratched global market. Meanwhile, a tumultuous outlook in the Italian politics alongside an escalation of Sino-US trade-spat slumped regional Pan-European STOXX 600 index, closed Monday’s (August 12th) market 0.3 percent lower after witnessing a plunge of 1.7 percent last week.
Addressing to a lack of dove in ECB (European Central Bank) policy, a chief investment officer at Stanhope Capital, Jonathan Bell said, “Every piece of news we’re seeing out of Europe in bearish. ” Quoting statistics, on Monday’s (August 12th) market closure, London’s FTSE 100 wrapped up the day 0.37 percent lower to 7,226.72, Frankfurt’s trade-sensitive DAX dwindled 0.12 percent, while French CAC 40 ended the day flatlined at 5,310.31.
Elsewhere in Europe, Italy’s FTSE MIB shed 0.30 percent to 20,263.83, while Madrid’s IBEX 35 winded down the day 0.93 percent lower to 8,676.40.