Dax Suffers 1st Monthly Loss Since March
European stocks ended lower at the end of a volatile session on Wednesday, with Frankfurt's DAX 30 falling 0.4% and booking a 1% monthly loss, its first since a dramatic stock market crash back in March. Surging coronavirus cases across Europe and a chaotic US presidential debate offset optimism from data showing a jump in German retail sales in August, China's solid manufacturing data in September and strong private employment growth in the US. German Chancellor Angela Merkel announced on Tuesday new restriction measures to contain the spread of the pandemic, such as restricting the size of gatherings and fining people who flout tracking rules, while the UK reported 7,143 new coronavirus cases, the highest single figure to date. Meanwhile, European Central Bank President Christine Lagarde signaled a change to the ECB’s strategy to align it with that of the US Federal Reserve, which would probably allow inflation rate to overshoot after missing the central bank's target for years.
6 hours ago