European Markets take Hit on Lockdowns Despite $1.9 Trillion U.S Stimulus Plan

European stocks fell on Friday as major economies braced for stricter lockdowns amidst plans for a $1.9 trillion U.S. stimulus package, reports Yahoo!finance. Britain’s FTSE 100 and German’s DAX opened 0.3% lower while France’s CAC 40 traded 0.5% lower.

• European stocks’ decline comes at a time most countries are struggling to contain the resurgent virus resulting in tighter lockdowns.
• France seeks to extend its 6 pm curfew to the whole country while Germany is pushing for tougher measures including home working and has shut non-essential stores
• The UK government is under pressure to tighten rules as daily death toll from the virus has hit a record high
• U.S stocks also traded lower on Friday with S&P 500 and Dow Jones down 0.3% while Nasdaq dipped 0.1%
• Asian stocks also fell after U.S President Donald Trump announced sanctions for nine Chinese firms over accusations of military ties.

Global stocks are currently declining. SPY is down 0.25% on premarket, DAX is down 0.99%, FTSE 100 is down 0.75%, CSI 300 is down 0.23%