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World NewsEuropean markets plunge as omicron worries intensify; Stoxx 600 down 2.3%

European markets plunge as omicron worries intensify; Stoxx 600 down 2.3%

LONDON — European markets plummeted on Monday, as the speedy unfold of the omicron Covid-19 variant triggers stricter containment measures throughout the continent.

The pan-European Stoxx 600 dropped 2.3% in early commerce, with journey and leisure shares sliding 3.3% to guide losses as all sectors and main bourses fell sharply into unfavorable territory.

The Netherlands entered full lockdown on Sunday till mid-January, and the opportunity of tighter restrictions being imposed over the Christmas holidays and into the brand new yr looms over a variety of European nations amid an unprecedented surge in Covid-19 instances.

From Monday, solely German residents, residents and transit passengers shall be allowed to enter Germany from the U.Ok., with all inbound vacationers required to quarantine for 14 days regardless of vaccination standing. Travel restrictions had been additionally imposed for arrivals from Denmark, Norway and France.

Austria will solely enable entry to vaccinated vacationers from Monday.

Cases have additionally begun to spiral stateside, with New York state and the District of Columbia posting document each day instances for consecutive days.

Stock futures fell sharply in early premarket commerce stateside, indicating a unfavorable open on Wall Street as omicron issues and the Federal Reserve’s impending tightening of financial coverage weighed on sentiment.

Stocks in Asia-Pacific additionally pulled again in a single day with Japanese markets main losses. Meanwhile, China slashed its benchmark lending charge for the primary time in additional than a yr and a half.

On the information entrance, October’s euro space present account determine shall be revealed Monday morning.

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