EUROPE’s top stock markets plunged into the red AGAIN on Friday amid panic over the future of some of the continent’s biggest companies.
Germany’s DAX and France’s CAC both dropped this morning before later recovering following a dire day of trading yesterday, which could mark the return to market carnage witnessed at the start of the year.
Germany’s biggest banking stocks have been among the biggest casualties this week, with Deutsche Bank falling by almost nine per cent and Commerzbank down by almost five per cent.
Fears are rising for the financial firms after the European Central Bank (ECB) last week cut interest rates further, hitting their ability to make money.
But after the turbulent start to the year, markets have been relatively quiet in March.
Now some critics have said this could be the calm before the storm.
Russ Koesterich, BlackRock’s global chief investment strategist, this week said markets have been “too quiet”.
He added: “March may have come in like a lamb, but the lion may be lurking.”
Full article: Europe on the BRINK: Financial disaster looms for Eurozone as markets plunge into the RED (Express)