(Bloomberg) — Stocks in Europe and Asia tumbled with U.S. equity futures on Thursday after the Federal Reserve painted a long slog ahead for the economic recovery and as coronavirus infection rates jumped in parts of America.
The Stoxx Europe 600 Index opened sharply lower, with sectors scooped up in the recent rally such as banks and travel leading declines. S&P 500 contracts sank after Fed Chairman Jerome Powell suggested the pandemic could inflict long-lasting damage on the economy. Treasuries continued higher while the dollar rebounded from Wednesday losses. The cautious mood coincided with concern of a fresh wave of