For USD investors, the collapse in German stocks has crushed returns to the lowest in 2 years. DAX’s collapse this week leaves it closing at Black Monday lows, the lowest since Dec 2014. Perhaps most stunning is German stocks down over 20% since Q€ began…

 

Absent Black Monday, this is the worst 5-day run for German stocks since the middle of the EU crisis in August 2011.

Charts: Bloomberg

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