Wednesday, 10 August 2011

Correction for European Equity Market

European equity markets are officially in correction mode. This was due to increasing uncertainty on the overall outlook of the European zone, as well as persistent sovereign debt problem with no immediate long term solutions. Today's drop in overall market was due to France been on the limelight for it's high debt problem, signalling that the contagion have spread beyond Italy now.

Any further drop of more than 20% will signal a change of the major recovery trend, confirming that equity market had crashed.

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