Markets went into a tailspin after news that Austria will become the first country in western Europe to reimpose a full coronavirus lockdown to tackle a new wave of infections and that Germany could do the same
Germany's health minister Jens Spahn warned the coronavirus situation in Europe's biggest economy was so grave that a lockdown, including for those vaccinated, cannot be ruled out."A total lockdown for Germany would be extremely bad news for the economic recovery," said Ludovic Colin, a senior portfolio manager at Swiss asset manager Vontobel.
"It's exactly what we saw in July, August of this year in parts of the world where the Delta was big, it came back and it slows down the recovery again."As the dollar surged 0.5%, the euro plunged to $1.1283, heading back towards a July 2020 low hit earlier this week . European and U.S. bond yields tumbled 5-6 basis points while equity markets reversed early-session gains.
While the pan-European STOXX 600 index slipped a quarter of a percent, Italian and Spanish shares slid more 1%
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