Saturday, 30 May 2020
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European Markets Whipsaw as Coronavirus Remains in Focus; Oil And Gas Stocks Bounce
Thursday, 2 April 2020 15:19 WIB | MARKET UPDATE |SahamEropaStoxx 600

European stocks turned negative Thursday morning as markets react to developments related to the coronavirus pandemic in the U.S. and around the world.

The pan-European Stoxx 600 reversed early gains to fall 0.5% below the flatline, with oil and gas stocks jumping 4.3% while financial services and travel stocks fell 1.9% to lead losses.

Global markets are reacting to news Thursday that the number of confirmed COVID-19 cases in the U.S. surpassed 200,000 Wednesday, doubling since Friday.

President Donald Trump has warned that the country could see an even greater surge in cases over the next few weeks. White House officials are projecting 100,000 to 240,000 deaths in the U.S., with coronavirus fatalities peaking over the next two weeks. The country is rolling out broader testing as outbreaks pop up in more and more cities.

Source : CNBC

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