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This amounted to a profits warning from the company, knocking confidence.
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Confiscating savers' money will knock confidence in the banks.
'They are vulnerable anyway, and an abusive call really knocks confidence.
But the rioting in France also knocked confidence in the euro.
On top of that, China's slowdown and stock market woes are rippling out to knock confidence in other emerging markets.
China's downturn, the prospect of rising interest rates and uncertainty about the global economic outlook have knocked confidence among bosses of the UK's biggest companies, according to a survey.
The shares plunged by more than a third to as low as 116p soon after the referendum as investors feared the vote would knock confidence in the property market.
While trade links with the UK are small, the South American country's currency and stock market were under pressure on Friday on fears that Brexit could knock confidence in emerging economies – especially those like Brazil with hefty current account deficits.
"That certainly knocked confidence a bit, and from then onwards, it was really uphill.
The ECB is delivering the cuts to stimulate the economy at a gentler rate than others, partly because it does not want to use up its ammunition for fighting the recession too quickly and partly because it believes too steep a cut would knock confidence, explained Archer.
The business group wants more help for firms to offset the pressures from the Brexit process, which has already shown signs of slowing business investment and knocking consumer confidence.
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