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Global stocks and US futures slide on Covid-19 fears

October 15, 2020. Summarized by summa-bot.

Global stock markets and US futures retreated on Thursday as a second wave of coronavirus cases triggered more restrictions in Europe and negotiations in Washington over financial help for struggling workers and businesses remained deadlocked.

London (CNN Business)Global stock markets and US futures retreated on Thursday as a second wave of coronavirus cases triggered more restrictions in Europe and negotiations in Washington over financial help for struggling workers and businesses remained deadlocked.

Milan Cutkovic, a market analyst at Axi, said that hope for new stimulus measures had been keeping optimism "alive" on Wall Street.

"Investors have now accepted that there will be no deal between the Republicans and Democrats over the stimulus package in the imminent future," said Cutkovic.

In Europe, a second wave of coronavirus cases is forcing countries including the United Kingdom to impose tougher restrictions on businesses and travel.

Germany, the largest economy in the region, registered 6,638 new coronavirus cases, according to data published Thursday — a record high for a single day.

With the arrival of the second wave, this cannot be ruled out anymore," said Cutkovic.

Leading European airline Ryanair (RYAAY) said on Thursday that it has been forced to reduce its winter flight capacity to just 40% of the previous year.

It had been hoping to operate at 60% capacity, but increased flight restrictions in Europe had made that impossible.

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