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European Markets Today: Stocks Hit Lows On Rising Coronavirus Fears

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European Markets Today: Stocks Hit Lows On Rising Coronavirus Fears

European indices are witnessing a bloodbath on Wednesday as a rising second wave of the coronavirus infections leads to fears of a lockdown. The negative sentiment impacts global markets, with the Dow futures receding 1.58% and the S&P500 futures plunging 1.23% at last check, and a mixed session in Asia.

Euro Stoxx 50 benchmark has shed 2.60% in Wednesday's trade to its lowest point since June. All the sectors are falling, with autos stocks leading the decline. 

London's FTSE 100 hit April lows by falling 1.7%. All sectors are trading in red, with bank shares leading the decline. U.K.'s distributive trade survey index for October fell to -23, compared to a consensus of 1.

Germany's DAX has tumbled 3.16% at press time, hitting June lows. Automobile, banks, and technology shares have fallen massively. Germany's import price index in September rose 0.3% month-over-month but fell 4.3% year-over-year.

France's CAC 40 index has lost 2.9%, falling below the lowest point since June. All sectors are falling, led by energy shares. The consumer confidence index for October fell 1 point to 94, better than a consensus of 93.

Spain's IBEX index is trading lower by 1.9% after the retail sales for September fell 3.3% YoY. All sectors have tumbled more than 1%.

Forex Trading: U.S. Dollar Index futures have gained 0.49% to 93.380. The dollar has strengthened 0.37% against the Euro to $1.1751 and 0.54% against the Sterling to $1.2972.

ETFs to watch: Vanguard FTSE Europe ETF (NYSE: VGK) and SPDR EURO STOXX 50 ETF (NYSE: FEZ)

 

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