Global stocks ease as lockdowns sap momentum, oil prices rebound

Global shares eased on Wednesday as optimism over the pace of recovery from COVID-19 that propelled markets to record highs was fizzling out in the face of more lockdowns in continental Europe.

European shares hit a two-week low before the pan-European STOXX index of leading companies recovered some lost ground to trade down 0.18%. Travel stocks were among the biggest fallers on the prospect of holidays abroad remaining a dream for now.

Paris and Frankfurt were weaker, with London edging up. U.S. stock futures pointed to a steadier start on Wall Street after Tuesday’s tumble.