European stocks headed lower Thursday, continuing a choppy pattern this week of reacting to news about the effectiveness of vaccines against coronavirus as well as tightening restrictions in response to the spreading virus.
U.S. stock futures ES00, -0.47% drifted after a 345-point drop for the Dow Jones Industrial Average DJIA, -1.15% on Wednesday. The pandemic emergency purchase program and targeted longer-term refinancing operations are likely to remain the main tools for adjusting European Central Bank policy, said President Christine Lagarde on Thursday. Lagarde reiterated the ECB would “recalibrate its instruments” as appropriate at its December meeting.
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