Stock markets sink amid Covid-19 surge | Sunday Observer

Stock markets sink amid Covid-19 surge

1 November, 2020

Financial markets have tumbled around the world for a second day this week amid concerns that a rise in coronavirus cases will hurt still tentative economic recoveries. Major US indexes sank 3.4% or more, while European bourses also saw steep falls.

The UK’s FTSE 100 ended almost 2.6% lower, and Germany’s Dax dropped 4.2%.The declines were widespread, as investors sold-off shares in favour of less risky assets like the US dollar. In the US, travel and energy firms, which are sensitive to concerns about the pandemic, suffered some of the steepest losses.