European Stocks at Lowest in Nearly a Month

European stocks hit their lowest in nearly a month on Thursday, as sentiment was affected by declining German consumer confidence, concerns about the increasing rate of Coronavirus infections, and the faltering stimulus in the United States.

The German DAX index fell 1.3%, below the European stock market indices, after a survey concluded that consumer confidence in the largest European economy decreased with the approach of November, as Germans became less willing to spend due to concerns about a second wave of the Coronavirus.

The pan-European STOXX 600 index fell 0.9% in its fourth consecutive session of losses.

Europe is witnessing an increase in cases of Covid-19 to unprecedented levels, as Spain has become the first European country to cross the million mark, while Italy records a record increase in daily infections.