Now: Risk Aversion Took Over the Market

Fear took over the financial markets as the energy crisis is getting more serious. Gas price is skyrocket to a new record high when Russia announces a sudden maintenance on their main gas pipeline, the Nord Stream 1. The pipeline will be close for 3 days beginning from 31 August.

The news triggered the panic in the market and resulted in the collapse of the European equity markets. There also a monthly report from the Bundesbank stating that the recession is inevitable if the current inflation trend keeps rising.