European stocks dive to 3-week low on US stimulus doubts

2020-10-22 12:48:44 GMT (Economies.com)
European stocks dive to 3-week low on US stimulus doubts

European stocks fell on Thursday, to deepen losses for the fourth straight day, and hit a 3-week low, amid a risk-off move due to doubts about resolving the US political disputes about the new Covid-19 aid package.

 

The Stoxx Europe 600 index fell 0.3% as of 09:15 GMT, and hit the lowest since October 2 at 356.43 points, after it closed lower by 1.4% yesterday, in the third daily drop due to fears over the European economy's recovery.

 

The pan European index opened lower today, to head for the fourth straight daily loss, and hit a 3-week low, with most of the major European markets and sectors seeing red today.

 

The health care  sector saw the largest losses in Europe today, falling around 1%, due to weak Q3 earnings by major companies.

 

The debate about the US second fiscal aid package are still the main focus of global markets, amid doubts about passing the package ahead of the next US presidential election.

 

US President Donald Trump accused Democrats of being unwilling to formulate a compromise on the economic aid bill, which came in tandem with expectations about the difficulty of passing the bill through the Republican-controlled Senate before the Nov.3 presidential election.

 

S&P 500 futures fell over 0.75%, and hit a 2-week low, after closing higher by 0.2% yesterday at Wall Street.

 

Back to Europe, the Euro Stoxx 50 index fell more than 0.3%, France's CAC 40 fell 0.1%, Germany's DAX fell 0.2%, and the UK's FTSE 100 lost 0.4%.

 
 
 
  Symbol Last Change Chg.%
1.1909
0.0015
0.1244%
1.3379
-0.0004
0.0291%
Tadawul
8688.76
21.04
0.24%
23.388
-0.657
2.734%
45.645
2.820
6.585%
48.31
0.45
0.94%
1810.640
-55.870
2.993%
 
 
US
 
Europe
 
Asia