, Columnist
European Stocks Look Cheap, and for Good Reason
There’s just too many risks facing the region to be sucked in by relatively low P/E ratios. Also, Italians are phlegmatic.
The bears are coming for European stocks.
Photographer: William Vanderson/Hulton ArchiveThis article is for subscribers only.
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It would be easy to overlook Europe as the unfolding U.S.-China trade dispute captures global investors’ attention, but that would be a mistake. The exceptional calm of financial markets in 2017 owed much to the surprise resurgence of the European economy, while this year’s turbulence can, in part, be tied to deep disappointment with Europe’s faltering economy.