European stocks - bellwether for global markets' rally?

European stocks were hit hard during the Great Financial crisis of 2008. They have doubled since the trough in 2009 but still below their 50% retracement despite the 2020 relief rally since March lows.

Could tech stocks' strength keep them afloat at this juncture?

Could European stocks derail the world markets' recovery or have they become the 'new Japan' that could stay underwater for another decade, while the US and new leaders power ahead?

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This has managed to break the downtrend for now.