LONDON: European stocks fell in early trading on Thursday after Wall Street suffered its worst day since October last year.
The continent-wide Stoxx 600 Index is down 1.7 percent in morning trade, putting it on track for its worst day of the year. German Xetra Dax fell 1.8 percent, and the London FTSE 100 index fell 1.6 percent.
On Wednesday, the company’s wave of results provided the latest glimpse into how the coronavirus pandemic is hitting sectors like aviation. The airline industry Boeing reported a record net loss and delayed delivery of its 777X wide-body aircraft to commercial service.
The S&P 500, which has rallied strongly since March when the pandemic first hit global markets, fell 2.6 percent. “I think it started with Boeing results, and then I got some results during the day that were also very weak,” said Joost Van Lenders, chief investment analyst at Kempen Capital Management.
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The yield on the 10-year US Treasury note, which has been pushed down in recent days as investors purchase safe-haven assets, fell 0.01 percentage point to just over 1 percent.
In Asian trading, the Japanese Topix index lost 1.1 percent, while the S & P / ASX 200 Index in Australia fell 1.9 percent. Hong Kong’s Hang Seng Index, which hit its multi-year highs earlier this week, fell 2.6 percent, and the benchmark CSI 300 Index of Shanghai and Shenzhen-listed stocks fell 2.7 percent.
