by Wolf Richter
Business optimism “lowest since the height of the Financial Crisis.”
You know things are getting bad when our leaders call for calm. US Secretary of State John Kerry just did that.
“It is absolutely essential that we stay focused on how in this transitional period, nobody loses their head, nobody goes off half-cocked, people don’t start moving on scatter-brained or revengeful premises,” he told reporters in Brussels on Monday after Brexit had thrown the EU into political turmoil, while European bank stocks had their worst two-day meltdown ever, on the toxic mix of Brexit and a full-blown banking crisis.