Global Market News

European Bourses Sharply Lower on Pandemic, Washington Stimulus Outlook


Last updated: 10/15/2020 07:37:05

07:37 AM EDT, 10/15/2020 (MT Newswires) -- European stock markets are trading sharply lower Thursday, as the stimulus stalemate in Washington continues to undercut sentiments, alongside the tenacious COVID-19 pandemic in Europe, said analysts. US Treasury Secretary Steve Mnuchin said Wednesday a stimulus deal with House Democrats was unlikely before the Nov. 3 election.

Officials in France on Wednesday imposed a 9 pm to 6 am curfew on Paris and many other cities, after daily new infection rates hit all-time highs in mid-October. London is mulling a ramp-up in restrictions as well.

The Stoxx Europe 600 is 2.2% lower, while the UK's FTSE 100 is off 1.8%. The CAC 40 in Paris is off 2.2% and the DAX in Frankfurt is off 2.9%.

Brent crude oil is trading at $42.31, off 2.6% overnight.

German 10-year sovereign bonds offer a negative 0.62% yield, nearing an all-time record low interest rate.

The Euro STOXX 50 Volatility index is trading near 23.24, up 1.3% from Wednesday, and edging away from levels indicating normal volatility ahead for European stock markets.
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