Global equities: Lockdown fears trigger worst sell-off
European stocks posted their worst fall in three months on Monday as fears of a second wave of Covid-19 infections hit travel and leisure shares, while banks tumbled on a report about $2 trillion worth of suspect transfers by leading lenders. There could be up to 50,000 new coronavirus cases per day in Britain by the middle of October if the pandemic continues at its current pace, the country’s chief scientist adviser warned. London’s FTSE 100 was the worst-hit blue chip index in Europe, falling about 3.4% in its worst day in more than three months. UK-focused midcaps in the FTSE 250 dropped 4.0%. The pan-European STOXX 600 was down 3.2%, a fall not matched since early June. Europe’s travel and leisure index fell 5.2%, its worst two-day drop since April, with British Airway-owner IAG plummeting 12.1% and Lufthansa 9.5%.
Published in The Express Tribune, September 22nd, 2020.
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