Le Borse europee spesso crollano ad agosto: stavolta è diverso?

European stocks often crash in August: Is this time different?

European indices hit record highs in August 2026; weakness stems from five extraordinary shocks (Russia 1998, Kuwait 1990, eurozone crisis 2011, Asia 1997, yuan 2015), median August +0.17%. August volatility is driven by geopolitical/policy shocks and liquidity gaps, not seasonality; long-term planning should anchor to fundamentals, not calendar.