Mario Draghi stimulus fails in stock market

Mario Draghi is having no success convincing stock investors that the European Central Bank has the firepower to reignite growth ahead of today’s ECB meeting.

While all economists in a Bloomberg survey expect the central bank to cut interest rates when policy makers meet, and 73% project them to boost the amount of money put into the financial system through bond purchases, fund managers aren’t optimistic about a post-decision equity rally.

In the first year of quantitative easing, the Euro Stoxx 50 Index fell 17%, and volatility reached levels not seen since 2008.