European stocks falter again as bounce on Wall Street fades
CNNHong Kong/London CNN Business — Global stocks are struggling to get back on track one day after novel coronavirus fears and an oil price war sparked a worldwide panic. The mood among investors was initially helped by news of President Donald Trump’s plan to propose “significant relief” in the form of a payroll tax cut and help for hourly workers most affected by the coronavirus, or Covid-19, and expectations of more stimulus measures as the risks of a global recession rise. Germany’s DAX lost 1.4%, France’s CAC 40 dipped 1.5% and the FTSE 100 ended flat.In Italy, where the entire country is now under unprecedented restrictions, the main benchmark index dropped another 3.3% after falling 11% on Monday. Italy’s prime minister announced that from Tuesday strict travel restrictions and bans on large gatherings would be extended to the entire country.The government said it was suspending mortgage repayments to help households cope, as part of a bigger economic relief package.