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10/28, 5:36 PM (Source: TeleTrader)
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Europe slumps at close as lockdowns loom

European stocks plummeted on Wednesday as coronavirus cases in Europe continued to worry investors as Germany and Switzerland announced new movement restrictions in attempts to curb the spread of COVID-19. The decisions come as European Commission President Ursula von der Leyen warned that everyone should get ready for higher coronavirus figures in the EU.

Germany's DAX fell 4.17% at the end of the day, with Infineon Tech dropping 7.61%. The FTSE 100 finished 2.55% in the red. The index was led lower by Rolls-Royce which plunged 61% as it announced factory closures. The CAC 40 in France slumped 3.37% as Renault lost 7.98%.

The euro declined 0.35% against the dollar to go for 1.17542 at 5:38 pm CET. The pound lost 0.48% against the greenback, changing hands for 1.29828 at 5:38 pm CET.

Breaking the News / VP