The FTSE 100 opened 47 points lower on Thursday morning amid rising Coronavirus cases.
Despite the vaccine positivity this week, which has led to rises in the blue-chip index, investors are becoming aware that it might not become available until after winter.
It wasn’t just the FTSE that slumped this morning. European markets were also down with the Dax and CAC 40 both opening 0.6% lower.
“The Covid era is not behind us yet,” said Charalambos Pissouros, senior market analyst at JFD Group.
“We may experience several more months of rising infections and economic slowdown. However, the upbeat developments with regards to the vaccine suggest that the end of this crisis is approaching.”
Some of the biggest fallers on the FTSE 100 this morning were oil companies, travel firms, and financial groups.
BP (LON: BP) was down 2.4% and Royal Dutch Shell (LON: RDSA) was 2.2% lower.