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European stock markets are sliding towards their lowest levels since the spring, as the second wave of Covid-19 infections force governments to impose tough restrictions again.
[A draft resolution…] said an exponential increase in infections in almost all regions of Germany meant that many local health authorities could not track and trace all infections so it was necessary to significantly reduce contact between people now in the hope that extensive restrictions are not required over Christmas.
If the leaders of Germany’s 16 states agree to the draft during a telephone conference later on Wednesday, fitness studios, discos and cinemas will close along with theatres, opera houses and concert venues.
The Euro will almost certainly come under more pressure, already on the back foot as investors reduce pre-US-election risk. The chill winds would be felt in European equities as well. The fall-out is unlikely to be confined to just Europe.