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Home / Business / Due to gains from high-tech stocks, COVID-19 and election worries, European stock markets are struggling, Dow futures fell more than 300 points

Due to gains from high-tech stocks, COVID-19 and election worries, European stock markets are struggling, Dow futures fell more than 300 points



On October 26, 2020, Apple displayed the figure of a man in its flagship store in Puerta del Sol, Madrid. Due to the COVID-19 pandemic, it has been closed.

MarketWatch / Kollmeyer

On Friday, European stock markets fell back and the Dow Jones Index fell 300 points. This was because investors were disappointed with Apple’s earnings, while concerns about COVID-19 remained at the top of the list, just a few days away from the US presidential election.

Stoxx Europe 600 Index XX: SXXP
It fell slightly by 0.1% at the close on Thursday. The index has fallen 5.7% for four consecutive trading days, its worst performance since June. German DAX DX: DAX
Very flat, CAC 40 FR in France: PX1
Increased by 0.3%. FTSE 100 Index UK: UKX
constant.

Asian stock markets fell across the board, Nikkei 225 Index JP: NIK
Oanda senior market analyst Jeffrey Halley said in a report to clients that the stock price fell by 1.5%, warning that “market sentiment remains unfavorable.”

Halley said: “The market will still be affected by more bad news from the United States and Europe on COVID-19, and the nuances of the U.S. election will cause stocks to follow other asset classes into a low-price mode.”

Preliminary GDP data in the third quarter showed that economic activity rebounded after the pandemic-induced recession, and major stock indexes fell below four trading days on Thursday. But Friday’s action hinted that Dow Jones crude oil futures will face difficult trading hours.
Fell more than 300 points, while S&P 500 futures ES00
Down 1%, Nasdaq 100 futures NQ00
Fell 1.6%.

Investors reacted to the performance of the tech giants. The technology giant made a large-scale report at Apple in the United States on Thursday night. Amazon, Facebook FB,
With Google parent Alphabet GOOGL
During the COVID-19 pandemic, all products have created record sales.

However, Apple’s AAPL stock
Due to insufficient iPhone sales (especially in China), pre-IPO transactions fell Refuse to give financial forecasts In the pandemic.And the stock of e-commerce giant Amazon AMZN
Operating profit for the fourth quarter is expected to be US$1 billion to US$4.5 billion, which is also lower than the average analyst forecast of US$5.81 billion.

Coronavirus cases on both sides of the Atlantic are on the rise, dark clouds are over investors, and American politicians are unable to reach a stimulus agreement before the presidential election, which is now only four days away.

Some observers were disappointed that the European Central Bank did not propose stimulus measures at its meeting on Thursday, despite new concerns about the region’s economy. The one-month ban announced by the French and German governments this week has made these concerns worse.

The central bank did hint that it might announce more stimulus measures in December. Data released on Friday showed that France’s economic growth rebounded in the third quarter. According to data from the French statistical agency Insee, the second-largest economy in the Eurozone grew by 18.2% after a 13.7% decline in the second quarter.

However, the French government lowered its 2020 GDP forecast in an attempt to explain the impact of new restrictions related to the coronavirus.

Among European stocks on the move, technology companies are under pressure after their performance in the United States. Business software group SAP SAP

XE: SAP
A decrease of 1.6%. The German tech giant issued a warning on Monday and started a turbulent week for technology stocks, which has fallen 30% this week.

In other respects, the stock of chip equipment manufacturer ASML Holding ASML

NL: ASML,
Another Stoxx heavy stock fell 2%, Dialog Semiconductor XE: DLG
The stock price fell 2.7%.

Air France-KLM FR: AF stock
The airline fell 4% after the company turned a profit in the third quarter because the company cut capacity and warned that its earnings would fall sharply in the last three months of this year. Lufthansa XE: LHA
The stock price fell 2%.

European stock markets have received support from a slight rebound in oil prices, and US oil prices are CL00
And Brent crude oil BRN00 rose 0.4%
Increased by 0.6%. That is the total FR: FP

until
The company reported a decline in profits in the third quarter, but the French energy giant said it would benefit from a more favorable environment and would maintain an interim dividend.

Stocks of oil giant Royal Dutch Shell RDS

NL: RDSA
Rose more than 1%.

Advantages NL PRX
The share price rose 2.5% after the Dutch technology investor said it would buy $5 billion of its own stock and South Africa’s parent company Naspers ZA: NPN.


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