October 14, 2020
In December 2019, the European Commission launched a new €3.5 billion technology fund to speculate on early-stage technology firms.
That month, our Global Market Perspective described the bearish implications like this:
When government gets into the act of speculation, the top is usually way past having occurred.
Less than 3 months later, Europe’s Stoxx 600 Technology Index fell almost 40%.
However, since then “Europe’s NASDAQ” recovered and in July actually made a new high for 2020.
Now, we are keeping an eye on Europe’s financial sector, which is flashing an important message.
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