The condition of Europe is not ideal at the moment. They have to deal with a lot of stuff right now. This includes the devastating floods that have been happening all over Europe. It is also because of the number of rising cases there.

The delta variant of the Covid 19 is going to spread across the country and it is going on strong. On top of that the market in Europe is also slipping. It can not get worse than this. The pan-European Stoxx 600 slid 1.2% in early trade, with travel and leisure stocks dropping 2.5% to lead losses as all sectors and major bourses slid into negative territory.

The development comes after Brent has surged more than 40% so far in 2021, with demand for crude rising as the global economy recovers from the pandemic.

European Markets Drop By 1%

On Monday morning, international benchmark Brent crude futures slipped 1.35%% to $72.60 per barrel. U.S. crude futures also declined 1.41% to $70.80 per barrel. Meanwhile, in Europe, the devastation caused by massive flooding around Germany and Belgium could weigh on sentiment in the region this week, as well as ongoing coronavirus concerns.

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England had taken it a step further by lifting all the Lockdown restrictions that had been in effect all across the country. This is done against many warning by health officials and experts all over the world.

They have repeatedly told them about the negative consequences this might bring, but English had turned a deaf year to this. In terms of individual share price movement, cruise operator Carnival fell more than 6% in early trade to the bottom of the Stoxx 600, while Swedish manufacturer Husqvarna climbed 2.8% to lead the index.

The Stoxx Europe 600 Index preliminary daily loss of 1% As the day came to a close, retail stocks had fallen by the most, 3.2 percent, while the bulk of sectors and all major bourses had also lost ground.

Contrary to the market, oil and gas equities ended the day up 0.8%. On Wednesday, after a slightly bearish start to trade, markets continued to fall as the PMI report for the euro zone in September confirmed that recession fears were justified.

As the European blue chip index finished the previous day up 3%, the dips on Wednesday came as a surprise. All industries and major exchanges ended the day up, with the travel and leisure sector’s 6.1% gain leading the way.

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In the wake of a second consecutive day of gains for U.S. stocks on Tuesday, share prices rose across Asia and the Pacific during the night. As Wednesday dawned, U.S. stock futures dropped.

Bond yields have fallen for two days in a row, which has helped fuel the market’s advances. drop below 3.6% after briefly passing 4% last week.