Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

European stocks slide after virus fears knock Wall Street

Published 19/11/2020, 08:32
Updated 19/11/2020, 08:40
© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - European stocks opened lower on Thursday following sharp losses on Wall Street as investors feared another round of shutdowns due to soaring coronavirus cases in the United States and Europe.

The pan-European STOXX 600 (STOXX) fell 0.7% by 0810 GMT, with growth-sensitive oil and gas (SXEP), banking (SX7P) and mining (SXPP) sectors leading early losses.

Encouraging news on COVID-19 vaccine had pushed the STOXX 600 to levels hit in February earlier this week and U.S. markets to record levels.

The U.S. death toll from COVID-19 approached 250,000 on Wednesday as New York City's public schools called a halt to in-classroom instruction in the latest major restriction to curb the spread of the virus. [nL1N2I42CM]

Ailing conglomerate Thyssenkrupp (DE:TKAG) fell 3.8% after it said it would need to cut a further 5,000 jobs to ease the impact of the coronavirus crisis on its businesses. [nL8N2I50R0]

© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

Norwegian Air (OL:NORR) slumped 15.7% after it asked an Irish court to oversee a restructuring of its massive debt as it seeks to stave off collapse. [nL1N2I40P5]

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.