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Europe: Stocks slide as Wall Street hit by virus surge

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[BENGALURU] European stocks closed sharply lower on Thursday as Wall Street tumbled after another record surge in US coronavirus cases that raised fears of fresh lockdowns. Read more at The Business Times.

"Risk appetite is struggling as the coronavirus spread is still not under control in most parts of the world and as geopolitical tensions between China and the West intensify," said Edward Moya, a senior market analyst at Oanda.

Technology stocks registered the only sector rise in Europe, up 0.9 per cent, while banks and utilities fell nearly 2 per cent. "We are in a position where companies can surprise positively versus expectations because the bar has come down quite sizeably for this year and activity has picked up substantially in the last two months," said Guy Miller, chief market strategist at Zurich Insurance.

 

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