A new wave of lockdowns and business closings swept across France, Germany and other places in Europe on Wednesday as surging coronavirus infections there and in the U.S. wipe out months of progress against the scourge on two continents.
The resurgence and the resulting clampdown sent a shudder through financial markets, and stocks slumped.
French President Emmanuel Macron declared a new nationwide lockdown starting Friday, saying the country has been “overpowered by a second wave.” Many doctors had urged the move, given that 58% of the nation’s intensive care units are now taken up by COVID-19 patients.
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