Markets

Fear of the second wave of corona weighs on the stock markets

Dhe leading German index started trading on Monday with a sharp drop of 2.7 percent to 11,642 points. Sentiment had already turned negative last week because the Fed had given the economy a bleak outlook.

Fear of new Corona outbreaks is now pulling the stock markets further down. China’s capital Beijing is struggling with a new outbreak and new cases are also reported from the Japanese capital Tokyo.

The M-Dax of medium-sized German stock market stocks lost 2.3 percent to 24,883 points on Monday morning and fell
again below the 25,000 mark. The leading euro zone index
Euro Stoxx 50 lost 2.3 percent.

Fear of a second wave of infections also kicked off the Asian stock markets at the beginning of the week. Dozens of new coronavirus cases in Beijing, all of which are linked to a wholesale food market, caused uncertainty. The rise in the number of cases in the United States also worried investors.

Nikkei down 3.5 percent

The American epidemic had recently reported more than 25,000 new infections. The buying mood also depressed the fact that China’s industry grew less than expected in May after the corona restrictions.

In Tokyo, the Nikkei index fell 3.5 percent to 21,531 points. The broader Topix index fell 2.5 percent. The Shanghai stock exchange was down 0.6 percent. The key companies in Shanghai and Shenzhen lost 0.8 percent. In Hong Kong, the Hang Seng was 2.2 percent lower. In South Korea, it was down almost five percent.

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