Stock market plunge - here are the bricks removed from the global Jenga game
An ugly day for stocks on Wednesday in the US, a bit of a recap ICYMi:
- Dow closes at session lows. Dow(n) -800 points
- ForexLive Americas FX news wrap: Taken to the woodshed
The why's (in summary):
- China July Industrial production +4.8% y/y (expected 6.0%) + other July activity data
- The German economy shrunk in Q2.
- It's finally here... US 2s-10s falls below 0 bps for the first time since 2007
- UK beats the US to the yield curve inversion party
Yep, ugly numbers from China, Germany, inverted curves in the UK and US.
Trump's response (he's on holiday):