15 Oct by Vitaliy Dadalyan

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Stocks Tumble on Earnings, Virus-Clampdown Fears: Markets Wrap

Stocks Tumble on Earnings, Virus-Clampdown Fears: Markets Wrap(Bloomberg) — Stocks tumbled in Europe amid earnings disappointments and clampdowns by some of the region’s largest cities to curb the virus. U.S. futures slid on wilting prospects for new stimulus from Washington before the November election.The dollar rose with Treasuries as a risk-off mood took hold. Paris is set for a curfew and Londoners will be banned from mixing with other households indoors beginning this weekend, as leaders struggle to cope with record new cases around the region. The pound fell.The Stoxx Europe 600 Index sank more than 2% and headed toward its biggest drop in three weeks. Roche Holding slipped after sales fell short of estimates. Oil producer Total SE dropped after reporting its European refining margin ebbed. Index futures were signaling U.S. equities may fall for a third session unless earnings from Morgan Stanley and Charles Schwab later on Thursday manage to spark some optimism.Investors are coming to terms with virus flare-ups that are triggering tighter restrictions, just as stalled talks on U.S. stimulus and Britain’s messy exit from Europe weigh on risk appetite. U.S. jobless data in several hours may only add to the gloom, according to strategists at Mizuho International Plc including Peter Chatwell.“Data today is expected to confirm U.S. economic sentiment is deteriorating, U.S. fiscal stimulus remains some way off, and a hard Brexit” is possible, Chatwell and his colleages wrote in a note.In an extraordinary step taking effect Saturday, French President Emmanuel Macron will confine residents of nine of the country’s biggest cities to their homes between 9 p.m. and 6 a.m. for four weeks.After this week’s summit in Brussels, U.K. Prime Minister Boris Johnson is expected to decide whether to pull out of talks and brace the country for a no-deal exit from the bloc..Here are some key events coming up:Morgan Stanley’s earnings are scheduled for Thursday.European Central Bank President Christine Lagarde leads off the virtual annual meetings of the International Monetary Fund and the World Bank Group. Through Oct. 18.These are some of the main moves in markets:StocksThe Stoxx Europe 600 Index sank 2.4% as of 9:57 a.m. London time.Futures on the S&P 500 Index fell 1.1%.Nasdaq 100 Index futures declined 1.8%.The MSCI Asia Pacific Index dipped 1.1%.CurrenciesThe Bloomberg Dollar Spot Index increased 0.5%.The British pound dipped 0.5% to $1.2947.The Japanese yen weakened 0.1% to 105.29 per dollar.The Australian dollar decreased 1.3% to $0.707.BondsThe yield on 10-year Treasuries decreased three basis points to 0.69%.Germany’s 10-year yield sank four basis points to -0.62%.Britain’s 10-year yield sank three basis points to 0.186%.Italy’s 10-year yield increased three basis points to 0.682%.CommoditiesWest Texas Intermediate crude dipped 1.4% to $40.48 a barrel.Gold weakened 0.3% to $1,895.17 an ounce.Natural gas gained 4.3% to $2.75 per mmbtu.Iron ore decreased 0.6% to $114.40 per metric ton.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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