European Markets Retreat with U.S. Election, Coronavirus in Focus



Elliot Smith | CNBC

LONDON — European markets pulled back Friday as investors await the outcome of the U.S. election and react to rising coronavirus cases and new restrictions across the continent.

The pan-European Stoxx 600 was down 0.6% by mid-afternoon trade. Autos fell 2% to lead losses while basic resources bucked the downward trend to add 0.6%.

The eyes of the world remain on the counting of ballots in U.S. election, with Democratic candidate Joe Biden closing President Donald Trump’s leads in key swing states of Georgia and Pennsylvania.

Based on NBC News’ tally, Democratic nominee Joe Biden has racked up 253 electoral votes, leaving him 17 shy of the 270 needed to win the White House. Votes are also still being counted in Nevada and Arizona, where Biden holds narrow leads.

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