BMDPY - Mamma Mia Che Macello (My Goodness What A Mess)
If you hear an Italian saying "Mamma mia! Che Macello!" ("My Goodness!, What a mess!") you know something isn't right.
Just to be clear: It's a (real) Mess, not (Lionel) Messy!...
We already started the morning with negative news, and (by the way) this is actually becoming a non-welcome habit.
First, it was the IMF cutting the 2018 world GDP growth forecast, from 3.9% to 3.7%.
Them, we saw German imports down 2.7% (that's a lot!) in August.
Finally, the MSCI Emerging Markets Index (EEM) hits new low for the year.