NEW YORK - World equity markets suffered heavy losses Monday as investors reacted to mounting fears of a second coronavirus wave and diminishing odds of another US stimulus bill as partisanship intensifies ahead of the presidential elections.
London stocks fell by 3.4 per cent after Health Minister Matt Hancock warned Britain's coronavirus crisis was at a"tipping point", fuelling expectations of more restrictions aimed at curbing Covid-19 as government experts said cases could mushroom. Hopes of another round of US stimulus spending took a hit with the death of US Supreme Court Justice Ruth Bader Ginsburg, which has sharpened already significant partisan differences in Washington ahead of the US presidential election on November 3.
Shares in major banks dived after BuzzFeed News and the International Consortium of Investigative Journalists published findings over dirty money allegedly flowing through the banking system.
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