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Global Stocks Plunge on Virus Restrictions, US Jobs Data

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Key Points

  • Global stock markets plunged Thursday, with investor sentiment hammered by fears that tighter coronavirus restrictions could derail the tentative economic recovery.
  • In London, equities closed 1.7 percent lower after the British government announced that the capital faces more stringent coronavirus restrictions as case numbers rise. 
  • Across the Atlantic, the Dow fell 0.1 percent and the tech-heavy Nasdaq slumped half a percentage point amid a slew of unwelcome news.
  • Visit The Financial Today’s homepage for more stories.

NEW YORK — Global stock markets plunged Thursday, with investor sentiment hammered by fears that tighter coronavirus restrictions could derail the tentative economic recovery.

In London, equities closed 1.7 percent lower after the British government announced that the capital faces more stringent coronavirus restrictions as case numbers rise. 

Paris suffered a drop of more than 2.0 percent after the French government announced a curfew for the capital and eight other cities—covering almost a third of the country’s population—for as long as six weeks.

And Frankfurt stocks lost 2.5 percent after Germany also ramped up COVID-19 restrictions, while the EU’s disease control agency labeled more than half of the bloc’s member states as red zones in a new map to guide countries’ decisions on travel restrictions.

“Dealers are dumping stocks for fear that economic activity will drop off because of the tighter restrictions in various parts of Europe,” said CMC Markets analyst David Madden.

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