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European stock futures drop as U.S., China spar over virus origin

Published 05/04/2020, 02:35 AM
Updated 05/04/2020, 02:40 AM
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt
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(Reuters) - European stock index futures tumbled on Monday, as investors returned from a May Day break to a fresh trade spat between the United States and China over the coronavirus crisis.

The Euro STOXX 50 futures (STXec1) fell 3.3% by 0613 GMT, suggesting a downbeat start in May after the STOXX 600 (STOXX) recorded a 6% gain in April.

U.S. Secretary of State Mike Pompeo said on Sunday there was "a significant amount of evidence" that the new coronavirus emerged from a Chinese laboratory, ratcheting up tensions with the country after last week's warning from President Donald Trump of retaliatory measures against China over the pandemic.

China's Global Times said in an editorial that Pompeo was "bluffing," calling on the United States to present the evidence.

© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

German stock futures (FDXc1) were down 3.2%, while France's CAC 40 (FCEc1) fell 3.2%. FTSE futures (FFIc1) dropped 0.4%.

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