Major European indices close down sharply led by German Dax

US stocks also falling sharply

The major European indices are closing the day sharply lower. Germany’s SAP warned of earnings declines going forward which hurt investor sentiment.  The German Dax closed down over -3.5%.   The sharp rise in Covid cases across Europe are also weighing on investor demand.  In the US, stocks are also faltering as well and are not helping overall sentiment..

The provisional closes are showing:

  • German DAX, -3.56%
  • France’s CAC, -1.9%
  • UK’s FTSE 100, -1.18%
  • Spain’s Ibex, -1.2%
  • Italy’s FTSE MIB, -1.6%
In the US market, the Dow industrial average is now down over 800 points or -2.88%. The S&P index is also down sharply. It is currently trading down 80.89 points or -2.34% at 3384.43. The NASDAQ index is down -2% at 11317.55.