European Shares at Their Lowest Level Since Mid-June

On Wednesday, European stocks reached their lowest levels since mid-June, following a report that France was considering implementing nationwide lockdown measures for a month to combat a rise in coronavirus cases.

The pan-European STOXX 600 index fell 1.6%, while the German DAX index tumbled 2.2%, the British FTSE 100 index fell 1.5%, and the French CAC 40 index fell 2.5%.

BFM television reported that the French government was considering imposing new nationwide lockdown measures from midnight Thursday, but the restrictions would be more flexible than the two-month lockdown that began in mid-March.

French President Emmanuel Macron’s office said he would deliver a speech on television later this evening.

The auto, banking and insurance industries, which are highly affected by the economy, led the early declines, dropping between 2.5% and 3%.

Deutsche Bank fell 3.6% despite the bank’s announcement of a surprise shift towards a quarterly net profit and updating of its investment bank’s outlook.