Stocks tumble on lockdowns, U.S. stimulus fears

Countries around the world are facing a resurgence in virus cases, and new lockdowns.

A looming curfew in Paris just one of the new measures to tighten restrictions.

And that has markets spooked.

Asian benchmark indexes all posted losses on Thursday (October 15), with Hong Kong’s Hang Seng closing down over 2 percent.

Indexes around Europe then tumbled for a third straight session.

The pan-European Stoxx 600 was off as much as 2.3 percent in early trade.

Germany’s Dax index did even worse, down as much as 3 percent.

Shares in travel-related firms once again took a beating.

Lufthansa dropped close to 6 percent early on before steadying. Easyjet did little better.

Events in the U.S. didn’t help sentiment.

Hopes are fading that a new stimulus package will be agreed there before the presidential election on November 3.

Treasury Secretary Steven Mnuchin says a deal is unlikely.

Those comments among the factors weighing on oil, with U.S. and international benchmark crude prices both falling.

They were down over 2 percent early on.

Among the few gainers Thursday morning were traditional safe havens including German government bonds.

Video Transcript

- Countries around the world are facing a resurgence in virus cases and new lockdowns. A looming curfew in Paris, just one of the new measures to tighten restrictions, and that has markets spooked. Asian benchmark indexes all posted losses on Thursday, with Hong Kong's Hang Seng closing down over 2%. Indexes around Europe then tumbled for a third straight session.

The pan-European Stoxx 600 was off as much as 2.3% in early trade. Germany's Dax index did even worse, down as much as 3%. Shares in travel-related firms once again took a beating. Lufthansa dropped close to 6% early on before steadying. Easyjet did little better.

Events in the US didn't help sentiment. Hopes are fading that a new stimulus package will be agreed there before the presidential election on November 3. Treasury Secretary Steven Mnuchin says a deal is unlikely.

Those comments among the factors weighing on oil, with US and international benchmark crude prices both falling. They were down over 2% early on. Among the few gainers Thursday morning were traditional safe havens, including German government bonds.