European stock tumble at open on virus curb fears

October 28, 2020: European stock markets tanked at the open on Wednesday as investors fretted over speculation about the imminent introduction of tighter lockdown measures to combat soaring coronavirus infection rates, dealers said.

In initial deals, the benchmark Paris CAC 40 shares index nosedived 3.2 percent to 4,579.89 points, Frankfurt's DAX 30 tumbled 2.9 percent to 11,709.39 and London's FTSE 100 sank 2.2 percent to 5,605.59. Other markets were also down sharply.

“The double whammy of fears of further lockdowns crimping any tentative economic recovery in the UK and Europe, and a follow-through of overnight weakness from the US-based partly on the lack of further stimulus, have had a negative impact on investor sentiment,” Interactive Investor analyst Richard Hunter told AFP.

AFP/APP

Posted on: 2020-10-28T14:50:00+05:00

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