Stock markets slumped on Wednesday as Germany’s economy went into reverse, fueling fears of global recession and slamming the brakes on a rally for equities after Washington delayed tariffs on some Chinese imports. Early in the afternoon, Toronto was down a stunning 272 points while New York sank by 654. Germany’s economy, Europe’s largest, shrank 0.1% in the second quarter as the trade war and weak demand dragged on German manufacturers. The eurozone as a whole barely grew in the same quarter, with the 19-country bloc adding 0.2% – a slowdown from the first three months of the year. Market Insider
