People clear debris at a damaged residential building in Kyiv, on Feb. 25.DANIEL LEAL/AFP/Getty Images
Investor morale in the eurozone plunged in March in the wake of the Russian invasion of Ukraine and its implications for the global economy, a survey showed on Monday.
Sentix’s index for the eurozone fell to –7.0 in March from 16.6 the previous month, hitting its lowest level since November 2020. A Reuters poll of analysts had pointed to a March reading of 5.3.
An expectations subindex fell to –20.8 in March from 14.0 in February, the lowest reading in nearly a decade and the biggest drop in the Sentix index’s 20-year history.
A current conditions subindex, meanwhile, fell to 7.8 in March from 19.3 in February.
Sentix said the eurozone economy was being dramatically hit by the Ukraine crisis, adding that the eastern European region was particularly suffering.
“The U.S. economy is also being hit by the crisis shock, although not quite as hard.”
Sentix surveyed 1,216 investors over March 3-5.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.