European markets head for flat open as coronavirus concerns weigh on sentiment

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European stocks are expected to open flat on Wednesday as concerns over the coronavirus outweigh optimism over the European Union's recovery fund.

European Union leaders reached a deal on a 750 billion euro recovery fundBut the flat open expected Wednesday suggests concerns over the pandemic are returning to the fore, especially over the U.S., where the virus has now infected more than 3.8 million people, according to data from Johns Hopkins University, and has killed almost 142,000 people.

The U.S. reported more than 1,000 deaths from Covid-19 on Tuesday, according to a Reuters tally, marking the first time since June 10 that the country reached that grim milestone. President Donald Trump warned Tuesday the pandemic in the U.S. will probably "get worse before it gets better." "That's something I don't like saying about things, but that's the way it is, it's what we have," he said during a White House briefing on the pandemic. "You look over the world, it's all over the world."

 

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