🔻 COVID fears send DE30 2️⃣% down

7:37 AM October 26, 2020

😷 German index tests October lows amid surging COVID cases that will require even tougher restrictions.

Friday brought some optimism to the markets as investors ignored surging COVID cases and focused on vaccine and treatment hopes instead. But the stats published over the weekend show that the situation might be spinning out of control and that means a possibility of more decisive actions taken by governments. This is the last thing the economy needs right now as the recovery looked weaker even without such troubles. Indices still remain at elevated levels (compared to spring) so a deeper correction is not out of question. Should 12320 level be broken, the next support is at 11870.

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