Europe slumps at close as lockdowns loom

Wednesday, 28. October 2020 17:36

European stocks plummeted on Wednesday as coronavirus cases in Europe continued to worry investors as Germany and Switzerland announced new movement restrictions in attempts to curb the spread of COVID-19. The decisions come as European Commission President Ursula von der Leyen warned that everyone should get ready for higher coronavirus figures in the EU.

Germany's DAX fell 4.17% at the end of the day, with Infineon Tech dropping 7.61%. The FTSE 100 finished 2.55% in the red. The index was led lower by Rolls-Royce which plunged 61% as it announced factory closures. The CAC 40 in France slumped 3.37% as Renault lost 7.98%.

The euro declined 0.35% against the dollar to go for 1.17542 at 5:38 pm CET. The pound lost 0.48% against the greenback, changing hands for 1.29828 at 5:38 pm CET.

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