European stock markets resumed on Monday with their dark periods of spring, shaken by the resurgence of the Covid-19 pandemic across Europe and the potential economic consequences of movement restrictions.
Read also: The London Stock Exchange undermined by fears linked to a second wave of covid-19
In Paris, the CAC 40 index fell 3.74%, its worst session since June 11.
In Frankfurt, the Dax plunged 4.37% and in London, the FTSE 100 by 3.38%.
"
Health woes are shaking the ambient mood,
" said David Madden, market analyst for CMC Markets UK.
By the time the United States will pass the 200,000 death mark, Madrilenians are resuming strict travel controls on Monday and the United Kingdom, the most bereaved country in Europe, fears a new "
takeoff
" of the pandemic.
"
There are both the fears related to Covid-19, the contagion of American markets on Europe via technological stocks, and the tensions between the United States and China
“, Summarizes Alexandre Baradez, analyst for IG France, to explain the decline in indices.
Read also: The Paris Bourse plunges 3.74% due to fears around the Covid
Very sensitive to the mood of Wall Street, the Parisian place deepened its losses at the opening of the New York Stock Exchange, itself weakened by the fall of its technological stars on Monday.
At mid-session, the three main New York indexes lost between 1.2 and 2.7%.
Revelations on banks
Also a source of stress on the markets on Monday, the fall in bank stocks across Europe after the revelation of a consortium of journalists who accuse these banking giants of having allowed large-scale dirty money laundering.
Targeted by the investigation into its alleged lack of transparency vis-à-vis certain customers of its Swiss subsidiary SGPB, Societe Generale lost 7.66% to 11.66 euros.
Deutsche Bank finished down 8.76% to € 7.00 and ING tumbled 9.27% to € 8.99 in Amsterdam.
Read also: Deutsche Bank, quoted in money laundering revelations, sinks more than 8%
These stocks were also affected by the fall in interest rates on the debts of the main states of the euro zone, sought after by investors scared by the stock market.
Ten-year debt fell between three and five basis points for Germany, France, Italy and Spain.