Double-dip recession fears weigh on markets – business live

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7.29am GMT

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Related: Coronavirus live news: ‘We cannot give up’ warns WHO chief; protests flare in Italy

The surge in Covid-19 cases around the world, notably Europe, has also sapped confidence, increasing fears of a “double-dip” scenario….

Exploding Covid-19 infections across the country could yet dent the American fourth-quarter comeback. Looked at in conjunction with Europe’s situation, there are severe threats to the consumption side of the global recovery.

For all the talk about China, it is essential to remember when America gets Covid-19, the rest of the world gets sent to the isolation facility.

European Opening Calls:#FTSE 5802 +0.18%#DAX 12225 +0.39%#CAC 4819 +0.06%#AEX 547 +0.24%#MIB 19018 +0.38%#IBEX 6844 +0.69%#OMX 1779 +0.20%#STOXX 3112 +0.22%#IGOpeningCall

It’s risk-off because Covid cases are rising and with curfews across Europe meaning economic dangers now lurk in the dark.

So, with the governments worldwide under pressure to tighten social mobility restrictions after a pick-up in new daily covid-19 cases, an effective vaccine candidate and even a partial stimulus bill and then topped up post-election cannot come quickly enough.

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