European stocks drop after highest daily increase in virus cases

2020-05-21 12:53:03 GMT (Economies.com)
European stocks drop after highest daily increase in virus cases

European stocks fell on Thursday, to head for the second daily loss in 3 days, on risk-aversion after the World Health Organization announced the largest daily increase in new coronavirus infections since the Wuhan outbreak in late December.

 

The Stoxx Europe 600 index fell by 1.1% as of 11:05 GMT, after it closed higher by 1% yesterday on improved investors' sentiment and hopes about a quick economic recover from the coronavirus impact, while it closed lower by 0.6% on Tuesday on a breather.

 

The pan European index opened lower today, to head for the second daily loss in 3 days, with most European markets and sectors seeing red today.

 

The travel and leisure sector saw the largest losses in Europe today, dropping more than 2.5%, due to renewed concerns about the coronavirus pandemic.

 

Director General of the World Health Organization Tedros Ghebreyesus said that the number of new coronavirus infections during the past 24 hours is the largest since the virus was declared a global pandemic.

 

Ghebreyesus said during a press conference on Wednesday that we still have a long way to go with the pandemic, and pointed out that during the past 24 hours, 106,000 new confirmed cases were reported in most parts of the world.

 

S&P 500 futures fell 1%, after the index closed higher by 1.7% yesterday at Wall Street, posting its fourth daily gain in five, o hopes of extra US stimulus measures.

 

Back to Europe, the Euro Stoxx 50 index fell 1.2%, the German DAX lost 1.4%, France's CAC 40 dipped 1%, and the UK's FTSE 100 fell 0.7%. 

 
 
 
  Symbol Last Change Chg.%
1.1299
-0.0032
0.2829%
1.2627
0.0120
0.9607%
Tadawul
7416.67
22.41
0.30%
18.675
0.329
1.790%
40.185
-0.050
0.124%
42.79
0.44
1.04%
1796.170
10.185
0.570%
 
 
US
 
Europe
 
Asia