(Reuters) – European stocks slid on Friday, erasing a large part of the weekly gains, after France imposed fresh regional lockdowns to curb the spread of the coronavirus amid signs of slowing vaccination in some countries.
The pan-European STOXX 600 fell 0.6% by 0809 GMT, tracking a dour session on Wall Street overnight after U.S. bond yields surged.
France’s CAC 40 was down 0.7% after the nation imposed a new four-week lockdown from Friday in 16 regions badly hit by the health crisis.
Oil & gas, banks, and miners led the declines as the fresh lockdowns dampened hopes of a swift economic rebound.
Shares in BP, Royal Dutch Shell and Total fell between 1.8% and 2.9% after crude prices plunged almost 7% overnight on fears the new lockdowns will hurt fuel demand.
Reporting by Sruthi Shankar and Devik Jain in Bengaluru; Editing by Arun Koyyur