European shares fell on Monday as signs of a resurgence in coronavirus cases in Germany and elsewhere unnerved investors who were hoping for a swift economic recovery from the crisis.
The pan-European STOXX 600 index slid 1% by 0710 GMT, with travel and leisure .SXTP, oil and gas .SXEP, and bank stocks .SX7P leading losses.
The World Health Organization reported a record increase in global coronavirus cases on Sunday, while Germany’s COVID-19 reproduction rate jumped to 2.88, a rate showing infections are rising above the level needed to contain the disease over the longer term. Scandal-hit Wirecard , which lost 72% in market valuate over the past week, fell another 43.9% as it said a quarter of its assets totalling 1.9 billion euros that auditor EY had been unable to account for likely did not exist and withdrew its earnings forecast.
Lufthansa dropped 6.7% amid a showdown between the airline’s biggest shareholder and the German government over the terms of a 9-billion-euro bailout.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York City will enter phase 2 of reopening on Monday, officials sayThe coronavirus pandemic has brought countries to a standstill. In many places, as countries reopen, Covid-19 cases are on the rise. Follow here for the latest.
Read more »
Stocks try to shake off second wave virus fearsU.S. stock futures erased losses and Asian stocks held flat on Monday, trying to shake off worries that rising coronavirus cases in the United States could scupper a quick economic rebound from the massive downturn triggered by the pandemic.
Read more »
Gold hits one-month peak as rising virus fears boost demandGold jumped to its highest in more than a month on Monday as investors sought the safe-haven metal after surging coronavirus cases intensified concerns over a delay in global economic recovery.
Read more »
China may enact Hong Kong security law by end of JuneChina released some details of the legislation late Saturday, heightening fears that the central government is tightening its grip on Hong Kong after months of anti-government protests last year.
Read more »
The U.S. currency's demand as an 'emergency dollar' could be waning, Deutsche Bank saysThe currency markets are currently facing 'multiple cross-currents' amid fears over a potential second wave of coronavirus cases in the world, said Deutsche Bank's Sameer Goel.
Read more »