European Stocks Drop Due to Fears of The Second Wave of Corona

European stocks fell on Thursday (November 12th) from their highest in eight months, as a surge in coronavirus cases raised doubts about a faster economic recovery and overshadowed positive quarterly earnings reports.

The Stoxx600 index of European shares fell 0.7% by 08:04 GMT, erasing some of the shine of the gains that had exceeded 13% since the beginning of this month, which put the index on the path to achieving its best monthly performance ever.

Britain’s FTSE100 index fell 0.9% as data showed the UK economy grew at a slower-than-expected 1.1% in September compared to August, even before the latest business restrictions were imposed.