Tue. Jan 31st, 2023

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European markets collapse

1 min read

European share markets

European stocks fell sharply on Thursday as hopes fade that a U.S. stimulus package will be agreed before the November election, and as restrictions return across Europe due to a surge in coronavirus infections.

European markets are following the tone set in the U.S. overnight with stock futures lower as traders continued to weigh the prospects for a coronavirus aid deal being reached before the Nov. 3 election.

Dow Jones Industrial Average futures were down 107 points. S&P 500 futures and Nasdaq 100 futures also traded in negative territory.

Treasury Secretary Steven Mnuchin said on Wednesday that reaching a coronavirus stimulus deal before the election would be difficult as Democrats and Republicans remain far apart on certain issues.

Coronavirus concerns continue to weigh on sentiment too as infections surge in the region. The French government declared a public health state of emergency Wednesday as the country saw hospitalizations from Covid-19 jump above the 9,100 thresholds for the first time since June 25.

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