- Barrons.com
Central Banks Are Top of Mind Across the Atlantic. European Stocks Slide.
Monetary policy is top of the agenda for European investors today. Sweden's Riksbank followed the Federal Reserve's lead by slashing interest rates and signaling further cuts could be on the agenda, while the Czech National Bank is also expected to lower borrowing costs later today. Neither of those are anywhere near as influential as the European Central Bank, but their decisions could cement investors' idea about where rates are headed.
- Barrons.com
Weak Economic Data Put Pressure on the ECB. The Euro Slumps.
Weak manufacturing data soured European markets' mood on Monday, causing the euro to plunge against the dollar. The manufacturing purchasing managers' indexes for both France and Germany came in lower than what economists were expecting, with readings of below 50 indicating that business activity is contracting. The currency is likely tumbling because investors believe that the weak PMI data will force the European Central Bank to cut interest rates relatively quickly in a bid to shore up the euro zone economy.
- Barrons.com
Rate-Cut Joy Is Fading. European Stocks Slide.
U.S. stocks look set to fall at the opening bell as excitement about the Federal Reserve's jumbo interest-rate cut fizzles out. It's been a similar story across the Atlantic. Europe's flagship Stoxx 600 index fell 0.
