The pan-European Stoxx 600 index was down 1.4% by late-afternoon. China's capital of Beijing warned that Covid has been spreading undetected for about a week. France's Emmanuel Macron comfortably beat rival Marine Le Pen in Sunday's election.

Asia-Pacific markets fell sharply on Monday following a sell-off on Wall Street on Friday. Mainland Chinese indexes led losses, with Shenzhen component and Shanghai composite tumbled more than 6% and 5%, respectively. Asian markets also being buffeted by concerns over China's Covid wave as the world's second-largest economy struggles to contain its worst outbreak of the virus.

U.S. stocks fell at the open, continuing an April market sell-off. The Dow Jones Industrial Average has pushed the Dow Jones lower for four straight weeks. Traders on Wall Street are bracing for a stacked week of earnings, including reports from major tech companies.

France's Emmanuel Macron looks set to have comfortably beaten his rival Marine Le Pen in Sunday's election. News of partial lockdowns in Beijing as infection rates in the capital accelerate look to be focusing attention on the downside risks to growth. Investors in Europe are also digesting the result of the French presidential election on Monday.
Posted by
Tap to Copy the Short Url to This Post: 
One-Stop Business News backed by Mark Cuban. Free to Use →