European stocks and U.S. futures slipped lower on Wednesday, after U.S. President Donald Trump warned the pandemic would “get worse before it gets better.”
The pan-European Stoxx 600 SXXP, -1.00% index fell 1%, giving back much of the last two day’s gains, while Germany’s DAX DAX, -0.38% declined 0.5% — returning to trade 1% down year-to-date from its brief venture in positive territory for the year on Tuesday. U.S. stock futures YM00, -0.25% ES00, -0.20% NQ00, +0.21% also dipped, implying an 188 point loss for the Dow Jones Industrial Average DJIA, +0.59% at the open.
Reports that the U.K. is close to abandoning hope of a Brexit trade deal with the EU pushed sterling GBPUSD, -0.32% 0.6% lower. Substantial losses for the pound would typically boost the FTSE 100 UKX, -0.89% but the U.K.’s benchmark index was 0.5% lower