DAX opens 230 points lower amid stimulus fears

Wednesday, 28. October 2020 09:05

Equities on major European stock markets were deep in the red territory at the open on Wednesday with the DAX in Frankfurt plunging more than 200 points. Investors are focusing on the United States President Donald Trump who said on Tuesday that there will be no coronavirus relief bill before election day. Meanwhile, new COVID-19 cases continued to rise across Europe.

The DAX dropped 1.93% or 231 points at 9:03 am CET with Heidelbergcement AG plunging by 3.84% at the same time. London's FTSE 100 was down 1.08% at 9:00 am CET. Wpp Plc was the worst performer dropping by 3.10% at 9:01 am CET. The CAC 40 fell by 2.06% at 9:01 am CET as Renault went south by 4.59% at the open.

The euro was 0.19% lower compared to the dollar at 8:59 am CET, trading at 1.17732. The British pound declined by 0.11% against the American currency, going for 1.30316 concurrently.

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Breaking the News / TF