The post-US midterm elections stock rout has extended to Europe, with the Stoxx 600 dropping nearly 2% this morning. European markets, which are less reliant on AI stocks, weathered the storm better than their Asian counterparts, where a regional benchmark plunged nearly 4%.
The market turbulence comes ahead of key decisions by the European Central Bank (ECB), adding to the uncertainty. Christine Lagarde, the ECB president, has been a central figure as markets brace for potential policy shifts.
Today also marks the deadline for nominations to replace Lagarde, further highlighting the political and economic crosscurrents at play. The broader economic landscape remains volatile, with investors closely watching for any signals from the ECB.