The bulls shifted back into focus on Tuesday ..... As - after Monday's losses - Europe's shares hit a 3-week high on hopes of a breakthrough in US-China trade talks.
The focus of THOSE: Beijing, where negotiators left their hotel for a second day of discussions on how US imports tariffs on hundreds of billions of dollars of Chinese goods - and reciprocal tariffs by China - might be eased.
U.S. Commerce Secretary Wilbur Ross has predicted that Beijing and Washington can reach a trade deal that they "can live with".
(SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Nothing is more important for German export-oriented shares than a solution to the trade dispute.
If there is a solution world economic peace is maintained.
If there is no solution there will be many more very depressed faces." Though - despite the lift in sentiment - those faces were in evidence on Tuesday.
As Germany digested yet more negative news on its - and the euro zone's largest - economy.
After data showing industrial orders slid by a per cent in November, more data shows actual output dropped by 1.9 per cent.
The hope now for markets: that global growth worries spread to the Fed - to prompt looser monetary policy.
(SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The Federal Reserve has clearly stated that the best is over for the U.S. economy.
There is no recession but in order to prevent anything close to it I don't see the Fed raising interest rates again in 2019." In the meantime, officials in southern Germany declared a state of emergency on Monday amid heavy snowfalls.
Analysts say it could put another dent into output .... In an economy suffering not just an economic chill, but a real one.