While interest rate cuts across Europe are verifying sending oil prices lower, the stock markets fell overseas over worries about the global economy. The Bank of England even slashed interest rates from an already low one, along with the Swiss Central Bank, but it wasn’t enough to keep stocks from tumbling.
Pan Pylas for Associated Press reports that Europe’s stocks are still at the same level they were before the rate cuts. In other words, investors just aren’t impressed.
SPDR DJ Euro STOXX 50 (FEZ) is down 44.9% year-to-date.