European stocks open lower as U.S. stimulus hopes fade

20.10.2020 - Petr Mazaylo
European stocks open lower as U.S. stimulus hopes fade

European stock markets opened slightly lower on Tuesday, weighed down by fading hopes that U.S. lawmakers would reach meet the Tuesday deadline for a U.S. stimulus package, and the tightening of lockdown measures in Europe.

DAX futures in Germany slipped by 0.1% at 2:05 AM ET (0605 GMT). Meanwhile, CAC futures in France lost 0.7%, while FTSE futures in the U.K. fell by 0.4%. 

In the U.S., stocks had closed lower on Monday with the Dow Jones Industrial Average falling by 1.4%. The S&P 500 ended the session 1.6% lower, while the Nasdaq Composite slipped by 1.7%.

Europe has been hardest hit with the resurgence of the COVID-19 virus, though new cases in the U.S. last week also saw a spike of 13%, and affecting more than 393,000 people, according to a Reuters analysis.

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