At the height of the international sell-off, the Athens Stock Exchange fell, recording large losses, which on the one hand brought it to a minimum of almost 2.5 months, and on the other cost it 800 points. Markets were dominated by fears of a recession, which was overshadowed by higher interest rates by the US and UK central banks this week.
However, the UK and the government’s announced economic program (significant tax cuts and £73bn government borrowing) were among the reasons that exacerbated the current poor climate.
Another was the preliminary September data on business activity in Europe, which slowed down for another month and continued to decline.
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Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.