Potentially even more dangerous for Markets is BASF, the German Chemical giant. Earlier this week it missed expected numbers massively and has shocked complacent markets. BASF confirms the genuine damage US / China trade has had on the global economy. This is a company that has seen its stock whapped, and EBITDA expected to plummet down 30%, because of the global economy rather than management cluster-failure. If it’s happened at BASF, it is going to happen elsewhere else. BASF is down 21% since April and crashed 7.5% on the news before wobbling back up a bit y’day.