Markets

DAX Tumbles On Virus Worries

(RTTNews) - German stocks fell sharply on Monday as several countries in Europe imposed new restrictive measures to contain a second wave of coronavirus.

The number of confirmed coronavirus cases in Germany increased by 8,685 to 437,866,while the death toll rose by 24 to 10,056, according to the Robert Koch Institute (RKI) for infectious diseases.

Berlin police on Sunday broke up a protest against coronavirus curbs and opened an arson investigation after an attack on a building housing the country's public health agency.

Renewed worries over U.S. stimulus progress and uncertainty ahead of the U.S. presidential election also dented investors' appetite for riskier assets.

The benchmark DAX plunged 300 points, or 2.4 percent, to 12,344 after climbing 0.8 percent on Friday.

Heavyweight SAP plummeted 17 percent after the software company cut its revenue forecast for 2020, saying that its business would take longer than expected to recover from the coronavirus pandemic.

Bayer AG edged down slightly after the pharmaceutical and life sciences company announced the acquisition of Asklepios BioPharmaceutical, Inc. or AskBio, a U.S.-based biopharmaceutical company.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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