An €82bn investor stampede shows scale of Europe’s woes

As the continent faces what Finland described as an “energy-industry Lehman Brothers” moment, warnings that a complete shutoff of Russian gas will plunge the region into recession are growing louder.

Europe’s woes have grown particularly acute in recent months as the region stares down the threat of a recession. File Picture: Hannelore Foerster/Bloomberg via Getty Images

War, a winter of energy rationing, a coming recession that could outlast any American one, and a newly hawkish ECB. How Europe will surmount its mountain of troubles is anyone’s guess, and investors aren’t sticking around to find out.

Money managers yanked $3.4bn(€3.3bn) from European stock funds in the week through September 7, taking total outflows in the past six months to $83bn (€82bn), according to Deutsche Bank AG, citing EPFR Global data.