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Yesterday saw substantial corrections again on Wall Street. The market seems to focus mainly on the bad news in recent weeks. Corporate results are explored and the least good or moderating signals are magnified.
Let’s discuss why we do not believe that there is more to it than a temporary correction:
For the results in Europe it is still too early to draw conclusions. They seem to give, however, a more mixed picture than in the US.
Perhaps the increasing sharpness of the political discourse also weighs on stock market sentiment in Wall Street. Some things may cool off after the important mid-term elections on 6 November.
In Europe, the uncertainty surrounding the Brexit negotiations and the conflict between Italy and the European commission surrounding the budget may, of course, cause additional stock market fluctuations.