Between stimulus hopes and second waves fears, the latter took the early win on Monday morning, the European markets falling as Germany’s R rate crosses the all-important 1 level.
It’s not just Germany, however. That Teutonic development comes after an alarming weekend for American coronavirus news. A troubling 29 states reported increases in their 7-day average of new reported cases following the easing restrictions of the last month or so, leading the White House to admit the government is preparing to deal with a potential second wave in autumn. Though its perhaps a misnomer to call it a second wave when Trump failed to substantively get a lid of the first wave.
To be fair to the markets, Monday’s open was more a gentle rumble of worry rather than a full-blow panic. The FTSE loitered around 6275 as it fell 0.2%, with the DAX down 0.3% and the CAC dipping 0.4%.
The Dow Jones is set to echo those low-level anxieties later today, with the futures having the index dropping a handful of points when trading gets underway stateside.
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