Ukraine crisis triggers ‘stagflationary shock’ for European stocks

 The selling intensified on Monday following reports that a western embargo on oil imports was being considered, sending European gas prices to record levels.

“Europe is probably already in recession,” said Luca Paolini, chief strategist at Pictet Asset Management. “Consumers aren’t going to go out and spend the savings they’ve built up when there’s a war happening on their doorstep, and that’s before you consider a big increase in inflation.”

The setback for European stocks — saw Germany’s flagship Dax index enter a bear market this week

FT 8 March 2022

https://www.ft.com/content/73b3f45e-b096-436c-b6d0-3402a1e2b053