European stocks have opened lower due to a lack in confidence that government led stimulus plans will he able to combat a worsening global economic outlook and sagging corporate profits. The DAX is currently down 68 pts or 1.72% at 3,876, the FTSE is down 62 pt or 1.6% at 3,854 and the CAC is down 32.3 pts or 1.18% at 2,713.
Risk aversion is alive and well this morning after a day or so off, and has seen the USD and JPY benefit throughout most of this mornings activity.
