Eurozone economic confidence fell to a 23-month low due to the impacts of Russia’s invasion of Ukraine.
- The sentix overall economic index declined to -22.6 points, the lowest level since June 2020.
- Situation and expectations values dropped nearly 5 points in equal measure, signaling that the economic downturn is taking a new dimension that is likely to cause major distortions in equities.
- Robert Habeck, the German Minister of Economics stated that considerable sanctions against Russia meant harming ourselves.
- German’s expectations index plunged to an all-time low of -32.8 points. The situation index fell by only 2.5 points.
Even though the US economy is doing better than Europe, the economic situation in the US is also worsening. The sentix index dropped for the 6th time in a row to -2.9 points.
DAX down -1.59%, EURUSD up +0.20%