European markets: European shares and US futures fall as Trump warns that the pandemic "will worsen earlier than it will get higher"

United States President Donald Trump speaks during the renewed briefing of the Coronavirus Task Force at the White House on July 21, 2020.

Jim Watson / Agence France-Presse / Getty Images

European stocks and US futures weakened Wednesday after US President Donald Trump warned that the pandemic "would get worse before it gets better".

Coronavirus fears have lingered over the past few days, overshadowed by vaccine hopes and the European Union's budget and recovery plan of $ 1.8 trillion ($ 2.1 trillion). However, concerns about the virus appeared to be high on investors' minds early Wednesday. Cases in the U.S. rose to over 3.8 million on Tuesday, and Trump seemed to change his view of face masks and urged Americans to wear them and exercise social distancing when the White House's daily briefings first began have returned since April.

The Europe-wide Stoxx 600
The index fell 1% and returned much of the gains of the past two days, while the German DAX
0.5% decline – Return to trade 1% since the beginning of the year from his short project in positive territory for the year on Tuesday. US stock futures
Also down, which means a loss of 188 points for the Dow Jones Industrial Average
+ 0.59%

Reports that the UK is about to give up hope of a Brexit trade agreement with the EU pushed sterling
0.6% lower. Significant losses for the pound would typically increase the FTSE 100
However, the UK reference index was 0.5% lower

The Euro
+ 0.08%,
which rose to an 18-month high after Tuesday's agreement on the EU's restructuring agreement and remained constant at $ 1.15. The weakness of the US dollar sent gold
+ 0.39%
and silver futures
+ 2.89%
The rise rose late Tuesday and both contracts continued to rise early Wednesday.

Focus on stocks

+ 11.19%
rose more than 10% after the home improvement group reported strong second-quarter results as consumers stocked up to do work on their homes during the closure. Like-for-like sales increased by 21.6% in the three months to July.

Melrose Industries
declined 15% after the turnaround specialist said revenue had decreased 27% in the six months ended June 30, and cost reductions due to the pandemic would result in job losses and that no interim dividend would be paid for 2020 .

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