European Actions Fail Over Concerns Over California Closure

Shoppers wearing face masks leave a shopping mall in Berlin on April 29, 2020 amid the new coronavirus pandemic COVID-19.

john macdougall / Agence France-Presse / Getty Images

European stocks fell on Tuesday, reversing the gains of the previous day on concerns about the closure of the state of California due to the increase in cases of coronavirus.

After the 1% increase on Monday, the Stoxx Europe 600 SXXP,
fell 1.4%.

The German DAX DAX,
French CAC 40 PX1,
and UK FTSE 100 UKX,
He also slipped.

Declines included Dutch payment company Adyen ADYEN,
and the German software maker TeamViewer TMV,
both have posted strong gains this year.

HelloFresh HFG,
+ 2.95%,
The maker of prepared food kits has risen to bring year-to-date earnings to 175%.

On Monday, California Governor Gavin Newsom ordered the closure of indoor operations at restaurants, bars, and museums, as the Los Angeles and San Diego school districts said that classes in the fall would only be online, news reports contributed. to a big pullback on Wall Street, for stocks technology in particular.

“Investor risk appetite seemed healthy for most of the first week-long session, which is about to get much busier with the company’s economic data releases and updates. However, the mood changed abruptly at the end of the US trading session, with some of the recent momentum gainers snapping back, ”said Ian Williams, strategist at Peel Hunt.

In China, export volumes increased in June, a sign of the recovery of the world economy.

In the UK, however, GDP rose just 1.8% in May, leaving the British economy 25% worse than February, before the country crashed.

Geopolitical tension was also in the air after the United States rejected China’s maritime claims in the South China Sea.

After the 0.9% drop for the S&P 500 SPX,
on Monday, US stock futures ES00,
+ 0.01%
rose 0.2%.