European Stock Markets Decline

European Stock Markets Decline

European stock markets fell on Wednesday following losses on Wall Street. DAX in Germany fell 0.7%, CAC 40 in France 1% and England's FTSE index fell 0.6%. Late Tuesday, Dow Jones Industrial Average fell 1.6% to 390 points. While the S&P 500 fell 1.1%, Nasdaq Composite fell 0.5% after the optimism surrounding Moderna's potential Covid-19 vaccine. The STAT's report used the following statements: "Based on the information provided by the Cambridge-based company Mass., Several vaccine experts concluded that there is no way to know how impressive the (Moderna (NASDAQ: MRNA)) vaccine is." Considering this information, attention was drawn to the latest economic data showing the depth of the economic slowdown in the region. Unemployment rose to a record high in April with young people applying in the Netherlands. Britain's inflation rate has fallen in April 2016 since August, and the coronavirus pandemic has also caused global oil prices to drop. According to institutional reports, Rolls-Royce (LON: RR) fell 2.5% after saying it would lay off at least 9,000 from its 52,000 global staff to adapt to the much smaller aviation market that would emerge from the coronavirus outbreak. On the other hand, retailer Marks & Spencer (LON: MKS) rose 1% after reporting that it would accelerate its most recent return program while dealing with the fallout caused by the coronavirus crisis and a 21% drop in annual profit. Gold futures rose 0.4% to $ 1,752 / oz, while EUR / USD rose 0.2% to 1.0942.