Losses accelerate across European markets

Monday, 21. September 2020 09:56

Fears over the second wave of the coronavirus in Europe continued to rattle investors on Monday, sending major benchmarks deeper into negative territory. The United Kingdom's Health Minister Matt Hancock warned the country is at a coronavirus "tipping point" and stated the government might need to introduce new measures to help stop the spread of COVID-19.

Meanwhile, bank stocks were hammered on a report that suggested major lenders moved illicit funds for nearly two decades.

The DAX dropped 2.23% at 10:00 am CET; Deutsche Bank tumbled 5% as the lender found itself in the report on banks' involvement in the suspicious transactions. A the same time, the CAC 40 sank 2% with Societe Generale among the worst perfomers. In London, the FTSE 100 plunged 2.52%; banks like Barclays and Lloyds plummeted 6%.

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Breaking the News / JC