Wednesday , December 2 2020
Home / Sportscope / Stocks sink as COVID cases surge and restrictions tighten

Stocks sink as COVID cases surge and restrictions tighten

MADRID, SPAIN - OCTOBER 25: People walk past a restaurant on the first night of a countrywide curfew on October 25, 2020 in Madrid, Spain. Spain has declared a national state of emergency and imposed a night-time curfew from 11pm to 6am in an effort to help control a new spike in coronavirus (COVID-19) infections. (Photo by Pablo Blazquez Dominguez/Getty Images)

People walk past a restaurant on the first night of a countrywide curfew on 25 October in Madrid, Spain. Photo: Pablo Blazquez Dominguez/Getty Images 

Stocks sold-off sharply on Monday, as traders around the world reacted to the worsening COVID-19 second wave in Europe and the US.

The weekend saw sharp increases in COVID-19 cases in the west and heightened restrictions introduced across much of Europe.

The US reported its highest ever daily total of new COVID-19 cases on Friday, hitting 83,757. The daily tally was almost matched on Saturday.

France recorded a new daily case high on Sunday, announcing 52,010 positive results recorded in the previous 24 hours. A 9pm curfew covering two thirds of the country came into effect on Friday night.

Italy and Spain also announced tighter restrictions on Sunday, including business closures and curfews. A state of emergency has been declared in Spain.

Stock markets across Europe fell sharply on Monday morning. The FTSE 100 (^FTSE) opened down 1.1% in London, the DAX (^GDAXI) dropped 2.7% in Frankfurt and the CAC 40 (^FCHI) fell 1.4% in Pairs. In Milan, the FTSE MIB (FTSEMIB.MI) dropped 1.5%, while the IBEX (^IBEX) shed 1% in Madrid.

BARCELONA, SPAIN - OCTOBER 25: Police officers stand on patrol on the first night of a countrywide curfew on October 25, 2020 in Barcelona, Spain. Spain has declared a national state of emergency and imposed a night-time curfew from 11pm to 6am in an effort to help control a new spike in coronavirus (COVID-19) infections. (Photo by Xavi Torrent/Getty Images)BARCELONA, SPAIN - OCTOBER 25: Police officers stand on patrol on the first night of a countrywide curfew on October 25, 2020 in Barcelona, Spain. Spain has declared a national state of emergency and imposed a night-time curfew from 11pm to 6am in an effort to help control a new spike in coronavirus (COVID-19) infections. (Photo by Xavi Torrent/Getty Images)

Police officers stand on patrol on the first night of a countrywide curfew on 25 October in Barcelona, Spain. Photo: Xavi Torrent/Getty Images 

US futures were sharply lower, pointing to a sell-off when Wall Street opens later today. S&P 500 futures (ES=F) were down 1%, futures attached to the Dow Jones Industrial Average (YM=F) were 1% lower, and Nasdaq futures (NQ=F) were off by 0.8%.

“The latest virus news and stimulus headlines has seen S&P 500 futures trade down,” said Jim Reid, a senior strategist at Deutsche Bank.

Stimulus talks continue to drag on in Washington, with little sign that a deal will be reached before next week’s US election.

Investors remain keenly interested in next week’s vote, however, polls over the weekend did not suggest any major change in the race. Democratic candidate Joe Biden retains a strong lead over US President Donald Trump.

Asian markets were mixed overnight. Japan’s Nikkei (^N225) closed flat and the Shanghai Composite (000001.SS) lost 0.8%. The KOSPI (^KOSPI) gained 0.5% in South Korea, the Hong Kong Hang Seng (^HSI) rallied half a percent, and the Shenzen Component (399001.SZ) rose 0.5% in China.

Credit belongs to : https://sports.yahoo.com

index.php

VIDEO: Stylish lolo is streetwear fashion’s newest star on TikTok

MB File Photo Grandpa Kang is an 83-year-old rising social media sensation with almost 200,000 …