European stock markets are all solidly in the red as lunchtime approaches.
The FTSE 100 is currently down 1.8%, with travel shares worst hit on a bad day for stocks. IAG is currently down 5.5%, with easyJet shedding 6.4%.
France’s CAC index is down nearly 1.9%, with the UK’s new quarantine rules casting a pall over the bourses.
Investors are worried that the Covid-19 crisis is entering a new phase, with cases rising in some European countries this week.
Alastair George, head strategist at Edison Investment Research, says: “What we have got is a significant amount of uncertainty over the evolution of coronavirus pandemic, which is maintaining a risk premium for the transportation, leisure and hospitality sectors.”
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