The stage of the first US Presidential debate is seen from backstage as workers complete the final touches on September 28, 2020 in Cleveland, Ohio.


eric baradat/Agence France-Presse/Getty Images

European stocks slipped Tuesday, amid political uncertainty and concerns about the economic impact of a second coronavirus wave.

Up 2.2% on Monday in its best one-day advance since June 22, the Stoxx Europe 600
SXXP,
-0.49%

fell 0.4%.

Decliners included shopping mall operator Klepierre
LI,
-3.72%
,
airline Deutsche Lufthansa
LHA,
-2.21%

and airports operator Aeroports de Paris
ADP,
-3.80%
,
all of which would be harmed by coronavirus restrictions. Total confirmed coronavirus cases have now topped 1 million globally.

The German DAX
DAX,
-0.76%
,
French CAC 40
PX1,
-0.51%

and U.K. FTSE 100
UKX,
-0.67%

each slipped.

Futures on the Dow Jones Industrial Average
YM00,
-0.24%

fell 68 points, after a 410-point surge for the blue chips
DJIA,
+1.50%

on Monday.

House Democrats unveiled a $2.2 trillion stimulus package, that is meant to be a bargaining tool with House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin due to rekindle negotiations.

The U.K. is holding talks this week with the European Union, as it pushes through an internal markets bill that would undo elements of last year’s withdrawal agreement. The main event of the day will come after European and U.S. markets close, which is the first debate between President Donald Trump and former Vice President Joe Biden.

Shares of Ferguson
FERG,
+6.20%

rose as the plumbing products supplier reported a 4% fall in pretax profits in the July 31-ending fiscal year, reinstated a dividend and said it would resume bolt-on acquisitions.

Pulp technology maker Valmet
VALMT,
-5.01%

declined after approaching valves maker Neles
NELES,
+3.47%

about a merger. Valmet, already the top shareholder in Neles, didn’t disclose terms. Alfa Laval
ALFA,
-0.87%

also is trying to buy Neles.



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