Investors continued to reduce their positions on international equity markets as fears of a cooling of the global economy persisted. The German Dax lost as much as 2.4%, falling to the lowest level since October 2013. The EuroStoxx50 declined to a two-month-low at 2’991.50 points. At the same time, Italian industrial production data emphasized growing concerns of a further deterioration in the Eurozone.
The German government cut its economic forecasts, as latest data on exports, industrial orders, and production came in weaker than expected. In China, exports rose strongly by 15.3% in September compared to a year earlier, beating the 12% estimate.
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