THE MARKET IS PANICKING: EU Cuts German 2013 GDP Forecast By More Than Half As Debt Crisis Is Starting To Hurt Germany Economy, Spain September Adjusted Industrial Output – 7.0%, AAPL Plunges Towards Bear Market, And Sean Egan Will Most Likely Downgrade US Credit Rating ‘No Matter What Happen’
November 7th, 2012
This Is The Report That Sent Stocks Tumbling This morning
DEBT CRISIS STARTING TO HURT GERMAN ECONOMY
It was shaping up like the perfect overnight ramp following yesterday’s Goldilocks election result… and then Mario Draghi opened his mouth.
DRAGHI SAYS DEBT CRISIS STARTING TO HURT GERMAN ECONOMY
DRAGHI SAYS GERMAN RATES LOWER THAN THEY WOULD BE OTHERWISE
DRAGHI: CRISIS MAKING GERMAN INTEREST RATES VERY LOW
DRAGHI SAYS ECB’S OMT IS NOT DISGUISED FINANCING OF GOVERNMENTS – correct: it is quiteovert
End result, after surging to nearly 1.29 last night, the EURUSD plunged in minutes, and just hit 1.275, the lowest in over two months…
German Sept Ind. Production -1.8%
Germany industrial production dived 1.8 percent month-over-month in September. This was much worse than the 0.5 percent decline expected, reports Dow Jones.
Year-over-year, production fell 1.2 percent.
Spain September Adjusted Industrial Output – 7.0% Y/y vs Est. -3.5%