European shares stabilized on Thursday, after a brutal sell-off was fueled by gl...
- European shares stabilized on Thursday, after a brutal sell-off was fueled by global recessionary fears, but investors were hoping central banks would step in to ease monetary policy and soothe jittery markets.
The pan-European STOXX 600 index was flat at 0828 GMT, after dropping to near six-month lows hit in the previous session with thin trading volumes as markets in Italy, Austria and Greece were shut for a public holiday. The U.S. Treasury bond yield curve inverted on Wednesday for the first time since 2007 and remained inverted for the second straight trading session, the clearest signal yet that the world’s largest economy may tip into recession.
“Its clear that some repricing is happening as we had a good start to the year, but the last few months have been truncated by the trade war issue,” said Geoffrey Yu, head of UK chief investment office at UBS Wealth Management.
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