US and European markets dip as Covid containment efforts founder

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Investors’ summer optimism replaced by insecurity as curfews and lockdowns return

Stock markets in the US and Europe fell sharply oas investors focused on signs that rich countries’ efforts to contain the coronavirus pandemic were foundering.

In Europe the Stoxx 600 index lost 1.8%, after heavy falls in German blue-chip stocks. In the US the benchmark S&P 500 had lost 2.2% by the middle of afternoon trading on Wall Street and the Dow Jones industrial average lost 2.8%.

Related: US stock markets continue falling amid Covid fears as Dow drops 510 points

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