Europe saw negative outflows for the first time, but it’s important to keep a sense of perspective

Investors bet carmaker’s proposed $42bn take-private bid for parts unit could trigger more deals for subsidiaries

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China’s policymakers are insisting today that they will hit this year’s growth targets, despite the impact of Donald Trump’s tariffs.

The vice head of China’s state planner said on Monday he was “fully confident” that the world’s second-largest economy would achieve its economic growth target of around 5% for 2025.

“The achievements of the first quarter have laid a solid foundation for the economic development of the whole year.

No matter how the international situation changes, we will anchor our development goals, maintain strategic focus and concentrate on doing our own thing.”

For companies, new orders are falling, capex plans are declining, inventories were rising before tariffs took effect, and firms are revising down earnings expectations.

For households, consumer confidence is at record-low levels, consumers were front-loading purchases before tariffs began, and tourism is slowing, in particular international travel.

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Following downgrades to its growth outlooks for the U.S., U.K. and many Asian countries, the International Monetary Fund last week cut its euro zone forecast.