European stocks slump as travel companies tumble on virus worries

European stocks skidded on Monday as travel and leisure stocks fell.

The Stoxx Europe 600

fell 1.15% to 449.50, on worries about the inability of major economies to return to normality as the COVID-19 pandemic lingers even with the emergence of vaccines. Decliners included cruise operator Carnival
plane maker Airbus

and engine maker Safran

Of the major regional indexes, the German DAX

declined 0.96%, the French CAC 40

slumped 1.18% and the U.K. FTSE 100

slumped 1.12%.

In England, the lifting of many restrictions, dubbed “Freedom Day,” was also coupled with new restrictions on travel to France, on worries about the beta variant of the coronavirus that causes COVID-19.

Reversing an earlier decision, U.K. Prime Minister Boris Johnson is now in quarantine until July 26, after contact with the country’s health minister, who is a confirmed coronavirus case.

The Nikkei 225

declined 1.3% in Tokyo, in what was a broad pullback across most of Asia. Infections reported in the Olympic Village ahead of the opening games underscored the difficulties the world has encountered trying to reopen economies.

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