European stock market retreat as coronavirus concerns linger

European stocks were lower on Monday amid concerns over a resurgence of the coronavirus in Asia and the U.S. as lockdowns are eased.

The pan-European Stoxx 600 recovered the majority of its steep earlier losses but was still down 0.7% by late morning. Basic resources shed 2.6% to lead losses while construction and health care stocks edged 0.2% higher.

Markets in Europe are following their Asian and U.S. counterparts lower as concerns over a second wave of coronavirus cases dominate market sentiment. Asian stocks traded lower Monday and U.S. stock futures fell in early morning trading on Monday, pointing to more losses ahead.