Europe drops 1.5% with worsening pandemic and no hope for new stimulus in the USA – Markets in a minute

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Europe heading for third loss session

Europe and the United States stock futures are falling this Thursday, October 15, with investors reflecting the disappointing results of some of the largest US banks and the inevitable postponement of new stimuli in the United States until later of the November 3 elections.

Euro Stoxx 50 futures fall 0.8%, pointing to the third consecutive day of losses for the Old Continent stock exchanges, after the pessimism that also marked the Asian session.

Japanese Topix lost 0.7%, Hong Kong’s Hang Seng slid 1.3% and South Korean Kospi fell 1.3%.

The Chinese Shangai Composite traded virtually unchanged and the Australian S & P / ASX 200 counteracted the trend with a 0.6% rise.

Yesterday, Wells Fargo and Bank of America showed results below analysts’ expectations, planting doubts about how the financial sector is facing the crisis motivated by the covid-19.

This was on the same day that US Treasury Secretary Steven Mnuchin dashed hopes for a stimulus agreement before the elections, stressing that it will be “difficult” to reach any understanding in time.

“At this point, doing something before the elections and executing it would be difficult, given the point we are in, in terms of the details,” said Mnuchin at the Milken Institute Global Conference.



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