• The weakness of the emerging markets, especially in Asia and Latin America, is weighing on economic assessments. But also home-made European problems.

• The US economy is still doing extremely well in an international comparison, but other regions are now suffering considerably from the constant, conflict-enhancing rhetoric of US President Trump, under a strong US dollar and local issues. Latin America is highly exposed.

In the last two months, investors have hoped that the economic downturn will be short-lived. This hope was largely lost at the beginning of September. From the perspective of the more than 1,000 investors surveyed by sentix, the economic sky darkens significantly, especially above all above the emerging markets. And this also has an impact on the developed markets.