Market optimism from Monday and Tuesday has completely evaporated as record COVID numbers reminded investors of lockdown risks. Following partial lockdowns in Czechia and Netherlands, investors could have been intimidated by Merkel’s comments on possible restrictions in Germany. This is clearly not the scenario that markets were hoping for during the summer when indices rallied. DE30 is down nearly 2% today and trades at the lowest level since 2 October. The nearest support is at 12320 with a stronger one at 11870 points.
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