March 24, 2023, 10:43 am EDT
Troubles In Europe
Millions of France people decided to work together to protest against president Emmanuel Macron and their government for its pension reform. Both citizens and police are fighting hard for almost a week and it is getting more intense.
German bank Deutsche Bank AG (DB) kept falling another -8% which was losing about -35% of its value since February. Credit default swaps and worries from investors after the failures of other banks (Silicon Valley Bank, Signature Bank, Credit Suisse, etc) pushed DB to lower ground.
Indeed, there are troubles that threaten the European financial system. In fact, the crisis is not limited to Europe but the whole world. It is possible that each region begins to reveal its hardship from financial difficulty, civil wars, or military confrontation in the background of high inflation and tightening job markets.
Thus, staying conservative in investing and preserving cash should be a high priority during this period.