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EUROPEAN STOCKS SET FOR A 4% FALL (0730 GMT)
Futures point to a lower open for European bourses with all main indices down around 4% as investors weigh how the stimuli package from the U.S. and Europe will help to cope with falling demand and prolonged supply chain disruptions.
"With supply chains disrupted since February, countries hit one after the other and businesses closed in many leading economies, it is not a question of if, but a matter of how bad and how long the coronavirus-induced recession will be," writes Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
MORNING CALL: WHAT A DIFFERENCE A NIGHT MAKES (0626 GMT)
A European investors could have been excused last night to feel somewhat reassured by Wall Street's 6% jump.
After all, it was reasonable to assume that the pledge by the Fed and by governments across the world to pump up hundreds of billions of dollars to cushion the effect of the coronavirus outbreak would calm markets down.
Not anymore. Whatever positive sentiment was around last night faded away and European futures are deep into the red. Like over 5% into the red.
Which makes sense because Asian bourses fell and U.S. futures hit their daily limit outside U.S. trade.
(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)