German Stocks Are Getting Smashed After That GDP Disaster

We already mentioned that markets were selling off, and that German GDP clocked in with a big miss, but we just wanted to emphasise the damage.

The DAX index is currently off over 2.6%, clearly the biggest loser in Europe.

chart

We note with a bit of amusement the timing of this article from yesterday in the NYT titled: Germany Is Flying Above the Economic Storm in Europe.

It does make some good points: Unemployment is ultra-low, there’s no civil strife, etc.

Hopefully it wasn’t a jinx.

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