European stocks tumbled on Monday, tracking losses across global equities, as investors faced worries over surging COVID-19 cases and restrictions to combat them, alongside concerns a key U.S. spending bill was in trouble.
The Stoxx Europe 600 index SXXP, -2.11% was down 2.3% to 462, after finishing last week with a 0.4% drop. The German DAX DAX, -2.65% was down 2.8%, the French CAC PX1, -2.01% was down 2.3% and the FTSE 100 index UKX, -1.74% was off 2.2%. The euro EURUSD, +0.21% rose 0.1% and the British pound GBPUSD, -0.41% fell 0.2%.
Europe also tracked losses for U.S. stock-index futures ES00, -1.62% NQ00, -1.63% YM00, -1.57%, which fell on COVID concerns and worries that President Joe Biden’s key $2 trillion spending bill was in trouble after Sen. Joe Manchin , said on Sunday that he couldn’t support it. That development prompted Goldman Sachs to cut its 2022 U.S. growth forecasts.
Among the heavyweights, chip group ASML Holding fell 2%, German business software group SAP SAP, +0.71% SAP, -3.09% fell 3%, while luxury-goods group LVMH Moët Hennessy Louis Vuitton’s MC, -1.63% stock dropped 2.6%. AstraZeneca shares AZN, -1.87% AZN, -0.97% fell 1.8%.
No. They slide due to US Senator Manchin.
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