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The STOXX Europe 600 index has experienced a steep decline, falling 5.2% this week, marking its largest weekly drop since March 2020. This decline follows a broader trend in European markets, which have been under pressure amid rising economic concerns. The index's weekly loss has now reached over 7.6%, reflecting a wave of selling that has wiped out significant value. Concurrently, the U.S. credit risk gauge has surged, indicating heightened concerns over creditworthiness, with the increase being the most substantial since the regional banking crisis. These developments highlight growing instability in both European and U.S. financial markets, compounded by fears of a potential economic downturn.
🚨This is truly CONCERNING: Only 63% of Americans would be able to come up with $2,000 to cover an emergency expense, the lowest share in 10 years. Historically low savings, skyrocketing debt, weakening labor market, and rising prices hit US consumers👇 https://t.co/3CAYzlHHrk
🚨Americans are MISSING debt payments as if there is a RECESSION: US consumer serious delinquency rates (90+ days) in credit card debt jumped to 11.4%, the highest in 13 YEARS. They are rising at the pace seen in the Great Financial Crisis of 2007-2009👇 https://t.co/ly02shPUh2
🚨US debt crisis is getting even WORSE: US government deficit hit $1.15 TRILLION in the first 5 months of the Fiscal Year 2025, the most EVER. This has even surpassed the 2021 fiscal shock after the 2020 Crisis. This is absolutely MIND-BLOWING.👇 https://t.co/aldO7WwUxW