Bull and bear statues are pictured outside Frankfurt’s stock exchange in Frankfurt.
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Hints of investor optimism in Europe were snuffed out this week, as the darkening economic outlook registered across the continent and sent stocks and credit markets sliding.The European Commission cut its prediction for 2016 growth in the 19-nation bloc to 1.7 percent from 1.8 percent and said the largest economies of Germany, France and Italy will all perform worse than predicted just three months ago. While the European Central Bank may spur into action again, moves in the euro and stocks suggest President Mario Draghi may be losing his ability to convince investors he can anesthetize the region from risks. The losses have left the Stoxx Europe 600 Index down 9.9 percent this year, its worst start since 2008 .Credit Suisse Group AG sank to its lowest price since 1992 Thursday after posting its biggest quarterly loss in seven years.While European shares are getting battered more than stocks worldwide, most other markets aren't faring much better. Amid a run of dismal earnings, the financial credit risk of European banks and insurers has risen to the highest in more than two years.
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