Stocks are plunging as traders brace for a German recession and global turmoil as US-China trade war continues

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  • European equities and US futures dropped on Thursday, fueled by rising fears of a German recession and worrisome developments across Hong Kong, Italy, and Argentina.
  • Asian markets rallied earlier on renewed hopes for an end to the US-China trade war.
  • "The delay to tariffs looks more like a temporary reprieve for domestic reasons rather than a genuine signal of willingness to talk with China," one analyst said.
  • View Markets Insider's homepage for more stories.

European equities and US futures dropped on Thursday, fueled by rising fears of a German recession and worrisome developments across Hong Kong, Italy, and Argentina. Asian markets rallied earlier on renewed hopes for an end to the US-China trade war.

Germany shrunk 0.1% in the second quarter, a sharp swing from first-quarter growth of 0.4%. The contraction reflected weakness in its auto industry, concerns about the UK's departure from the EU, and the toll of the US-China trade war on its export-focused manufacturing sector, according to the Financial Times.See the rest of the story at Business Insider

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SEE ALSO: The Trump administration delays a portion of planned China tariffs until December

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