European stocks plunge after the continent reports its biggest ever GDP drop
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.European stocks moved lower on Monday after eurozone GDP fell by 3.6%, it's worst fall since 1995, when comparable records began. US futures also fell, with the S&P 500 looking set to lose 1% at the open, and fall back into negative territory for the year.
This represented the euro area's worst GDP performance since 1995. The drop is the worst in recorded history, as comparable records only started in 1995.All major European exchanges turned red on Tuesday on the news, with Germany'sEuropean stocks had been largely supported by a $676 billion boost to Europe's Pandemic Emergency Purchase Programme, bringing the coronavirus rescueNeil Wilson chief market analyst at Markets.
"Equity markets in Europe were lower again with investors looking ahead to the Federal Reserve two-day meeting, which starts today."Stocks have met none of the 8 conditions that confirmed every new bull market in the post-war era — and one investment chief warns a relapse into a bear market is comingThe slump in European equities came despite a 15 billion euro package by France to help prop up its aerospace industry.
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