Saturday, December 4

Markets on alert due to Covid-19 resurgence: the euro plummeted, the dollar soared and European stock markets fell

In addition to the lockdown, Austria also said it will require all its citizens to be vaccinated against Covid-19 by February, while Germany’s health minister has warned that the restrictions could return. “One thing is for sure: if all of Europe were to be confined again, and depending on how long it lasted, we would have to rethink our growth scenarios,” said Stephane Ekolo of the Tradition brokerage.

Bags of the world

European stocks fell on Friday and closed with their first weekly low at seven, due to concerns about the economic damage from new Covid-19 lockdowns in the region. that hit cyclical sectors like banks and automakers.

The pan-European STOXX 600 Index was down 0.3% after hovering near earlier all-time highs. It ended the week with a 0.1% drop. Exchanges lost ground following the news that Austria will again impose a total lockdown. On the other hand, German Health Minister Jens Spahn said that the coronavirus situation in the country “was so serious that confinement cannot be ruled out, even for people who have been vaccinated.”

Shares in Frankfurt lost 0.4%, while sectors more exposed to economic cycles such as banks, car manufacturers and travel and leisure fell between 1.5% and 2.2%. Southern European markets, including those of Spain and Italy, fell by around 1.5%.

As long as on Wall Street, The Nasdaq Index surpassed the 16,000 mark for the first time on Friday, in its second consecutive record final, while the Dow Jones added its fourth session of losses in the last five. Both the Nasdaq and the S&P 500 index scored a winning week, after the previous’s declines ended a streak of five weekly gains.

The Dow Jones’ second consecutive weekly loss wiped out November gains, amplifying the index’s slide from its all-time high on November 8.

According to preliminary data, the S&P 500 lost 6.54 points, or 0.14%, to 4,697.95 units, while the Nasdaq gained 64.63 points, or 0.40%, to 16,058.34. The Dow Jones Industrial Average fell 269.04 points, or 0.75%, to 35,601.91 points.

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