France's CAC 40 dropped 3.5% in early trading to 4,565.93, while Germany's DAX dropped 3.3% to 11,663.00. Britain's FTSE 100 lost 2.3% to 5,595.22. U.S. shares were poised for declines, with Dow futures down 1.7% at 26,893.0, while S&P 500 futures were trading at 3,335.38, down 1.5%.
Policymakers in Europe "must choose between low unemployment or low COVID transmission rates. Unfortunately, they are now left dealing with the most sensitive currency of them all, people's lives," Stephen Innes of Axi said in a report. Japan's benchmark Nikkei 225 fell 0.3% to 23,418.51. South Korea's Kospi gained 0.6% to 2,345.26. Australia's S&P/ASX 200 rose 0.1% to 6,057.70. Hong Kong's Hang Seng shed 0.3% to 24,708.80, while the Shanghai Composite gained 0.5% to 3,269.24.
Investors are clamouring for Congress to deliver more virus relief for the U.S. economy, but they're increasingly acknowledging it won't happen anytime soon.
More likely they are sliding because of fears of Joe Biden possibly getting elected.