European stocks slump and Dow futures lose 800 points on rising infection fears
The German DAX DAX, -2.55% , French CAC 40 PX1, -2.56% and U.K. FTSE 100 UKX, -2.01% each lost at least 2%.
Rising infections in Arizona, California, Florida and Texas, as well as a new outbreak in Beijing, sent investors scurrying from risky assets.“Overall, it’s possible that globally we are now shielding the vulnerable better and that even if we do see a second wave it might not be as deadly as the first. Anyway, expect the market to be obsessing about these states this week,” said Jim Reid, strategist at Deutsche Bank.Of companies in the spotlight, BP shares BP, -4.53% BP, +2.
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