European Shares Extend Losses On Growing Virus Worries

(RTTNews) - European stocks tumbled on Wednesday as governments across Europe seek to tackle rising coronavirus infections with fresh measures that sparked protests in places such as Italy.

Meanwhile, hopes of U.S. stimulus faded after U.S. President Donald Trump admitted that talks have collapsed for a coronavirus stimulus package before Election Day.

"After the election, we will get the best stimulus package you have ever seen," Trump told reporters at the White House.

The pan European Stoxx 600 tumbled nearly 2 percent to 345.67 after falling 1 percent on Tuesday. The German DAX plunged 3.1 percent, France's CAC 40 index lost 2.8 percent and the U.K.'s FTSE 100 was down 1.7 percent.

Peugeot fell 3.8 percent. The French automaker posted a fall in third-quarter revenue and said it expects the European car market to drop 25 percent in 2020.
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