European stocks opened lower Wednesday as a surge in coronavirus cases in the U.S. and beyond, and regional outbreaks in Germany, spooked investors.

The pan-European Stoxx 600 was down 0.4% after the opening bell, with all major bourses in negative territory. Health care stocks, which were almost 1% lower, led losses in the region, while the banking sector, up 0.2%, led gains.

Investor sentiment has been shaken by an uptick in the number of Covid-19 cases all over the world as economies emerge from lockdown. White House health advisor Dr. Anthony Fauci warned Tuesday that parts of the U.S. are beginning to see a "disturbing surge” of Covid-19 cases.

Fauci did also say, however, that states with growing coronavirus outbreaks may not need to do an "absolute shutdown.” More than 2 million people in the U.S. have been infected with the coronavirus so far, according to data compiled by Johns Hopkins University.

Source : CNBC