European stock indices collapsed along with futures on the U.S. dollar as the world records new coronavirus outbreaks.
This was reported by the agency “Bloomberg” on Wednesday, June 24.
According to the media, market sentiment is becoming increasingly negative due to fears that the new wave of coronavirus will force officials to reverse the economic recovery and introduce a new quarantine. The situation is also aggravated by the prospects for a new trade war due to Washington’s intentions to introduce customs duties on goods from Europe.
As News Front reported earlier, this way the U.S. expects to receive $3.1 billion. Tariffs will apply to products such as olives, beer, gin and trucks. Moreover, Washington will raise the duties already imposed by Donald Trump on dairy products and aircraft.
The European Union, in turn, is considering closing its borders to Americans, given the scale of the epidemic in the States.
Prospects for Trump’s re-election are threatened by economic poverty
“The outbreaks of the disease have given markets an unpleasant reminder that the pandemic is far from over and that economic recovery may be slower than expected”, – commented Mobin Tahir, Deputy Director of Research at WisdomTree Foundation.