Stock prices in Europe, and mostly in the United States, fell on Tuesday, October 27, amid concerns that a sharp rise in COVID-19 would put new restrictions on the economy.
Market participants have also given up almost any hope that US Republicans and Democrats will reach an agreement on an economic stimulus package ahead of the November 3 presidential election. The two sides blame each other for the stalemate in the talks, but US President Donald Trump said on Tuesday that he plans to pass a bill on such a package after the election.
“This means that the spread of the new coronavirus and companies’ profits will determine investor sentiment at least until election day,” he said. ThinkMarkets market analyst Fawad Razaqzada.
The decline on European stock exchanges on Monday continued on Tuesday, with more and more countries imposing stricter restrictions and even quarantines to slow the spread of the coronavirus.
Wall Street indices Dow Jones Industrial Average a Standard & Poor’s 500 shrank, but the index Nasdaq Composite increased, reflecting the better situation of the technology sector.
Oil prices rose after falling on Monday. The US dollar appreciated against the British pound and the euro.
US stock index Dow Jones Industrial Average on Tuesday fell 0.8% to 27,463.19 points, the index Standard & Poor’s 500 fell 0.3% to 3390.68 points, while the index Nasdaq Composite increased by 0.6% to 11,431.35 points.
The London Stock Exchange index FTSE 100 fell 1.1% to 5728.99 points on Tuesday, the Frankfurt stock exchange index DAX 30 fell 0.9% to 12,063.57 points, while the Paris stock exchange index CAC 40 fell 1.8% to 4730 .66 points.
In the electronic trading of the New York Stock Exchange, the price of WTI crude oil increased by 2.6% on October 27 to USD 39.57 per barrel. Brent The price of crude oil rose 1.8% to $ 41.20 a barrel on the London Stock Exchange.
The euro fell against the US dollar from 1.1810 to 1.1789 dollars per euro on Tuesday, the British pound against the US dollar fell from 1.3212 to 1.3039 dollars per pound, and the US dollar against the Japanese yen fell from 104.84 to 104.41 yen per dollar. The euro fell against the British pound from 90.78 to 90.38 pence per euro.
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