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European Markets Today: Indices Plunge On Fears Of New COVID-19 Restrictions Hurting Economy

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European Markets Today: Indices Plunge On Fears Of New COVID-19 Restrictions Hurting Economy

European indices are starting the week on a rough note, taking cues from Asia and the U.S. The Dow and the S&P 500 futures have shed 1% early Monday on the last check. WTI crude futures are falling sharply, down 2.94% to $38.68.

Stalled U.S. stimulus talks, a rise in coronavirus cases, and new restrictions in Europe are some of the reasons for investor fears, leading to a sharp fall in major markets. The Irish consumer confidence index for October declined sharply to 52.6, from 60.7 earlier.

Euro Stoxx 50 benchmark plummeted 1.80% in Monday's early trade on top of a 1.4% decline in the last week. There are no major economic events scheduled for the European Union Monday.

London's FTSE 100 is trading 0.60% lower at press time, after declining 1% in the last week. Industrial, energy, and technology stocks drag the index lower, while major bank stocks are trading flat. There are no major economic events scheduled for Monday.

Germany's DAX, which had fallen 2.04% in the last week, has plunged 2.31% early Monday after a warning from major software maker SAP SE (NYSE: SAP) in its third-quarter earnings. Investors will be watching business indicators data for October scheduled to release on Monday.

France's CAC 40 index is trading 1.14% lower at publication time, dragged down by energy and technology shares. Investors will be watching the short-term bonds auction on Monday.

Spain's IBEX index is down 0.57% in Monday's trade as financials, and consumer shares, have fallen. There are no major economic events scheduled in Spain for Monday.

Forex Trading: U.S. Dollar Index futures have gained 0.27% to 93.020. The dollar has strengthened 0.37% against the Euro to $1.1816 and 0.08% against the Sterling to 1.3029.

 

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