China’s rate hike problems are spreading across the globe this morning, with European indices hit by the move. UK markets are closed for the holiday.
- DAX down 1.17%
- CAC down 1.04%
- IBEX down 1.59%
Specific industries are getting hit worse by the selloff. Notably, automobile manufacturers are in decline.
- Volkswagen down 4.60%
- Daimler down 4.24%
- BMW down 4.98%
- Porsche down 5.46%
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