European markets heading for lower opening amidst US lockdown lifting
On Wednesday, European stocks are expected to open lower as investors are focusing on the progressions in the U.S. after the country made the decision to lift the lockdown restrictions, and oil prices that have fallen again.
London’s FTSE is observed opening 34 points below at 5,818 whereas Germany’s DAX is seen 94 points lower at 10,645. France’s CAC 40 is seen 39 points lower at 4,438 and Italy’s FTSE MIB is seen 150 points lower at 17,052, according to IG, CNBC reported.
European markets seem to be closely following developments in Europe and the U.S. as both regions have started to dial down lockdown measures and will have to see the impact that is going to make on the coronavirus pandemic.
U.S. President Donald Trump on Tuesday stated that reopening parts of the nation’s economy now, without considering the advice of many health experts, would take some lives of Americans. But he believes that the benefits would overshadow the costs.
“It’s possible there will be some [deaths] because you won’t be locked into an apartment or house or whatever it is. But at the same time, we’re going to practice social distancing, we’re going to be washing hands, we’re going to be doing a lot of the things that we’ve learned to do over the last period of time,” Trump told ABC’s David Muir in a rare network news interview.