European equities extend fall in opening hour of trade

Author: Justin Low | Category: News

DAX slumps by over 2% currently

DAX
For bank trade ideas, check out eFX Plus
Other major indices in the region are also seeing losses close to 2% currently, as the risk mood continues to sour in the opening hour of trade. Elsewhere, Nasdaq futures are also seen down by a little over 1% and S&P 500 futures are down ~0.6%.

The setback in US stimulus talks is still a factor that most market participants are alluding to after the recent resurgence in US equities appears to be falling short of testing the early September high.

Meanwhile, the worsening virus situation in Europe - where even Germany is now reporting a record rise in daily cases - is weighing on sentiment in general.

DAX
The DAX has now moved to test its 100-day MA (red line) once again, a level that has helped to prevent a more meaningful drop in the index over the past three weeks.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose