European shares in worst week since mid-June as Covid-19 fears haunt investors

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 5, 2020. Picture: REUTERS/Staff

European stocks recorded their worst weekly decline since mid-June, as investors feared that a second wave of coronavirus infections will hamper economic recovery, while banking stocks sank to an all-time low.

The pan-European Stoxx 600 index slipped even as Wall Street marked gains on signs that US lawmakers were making progress on a $2.2 trillion stimulus package that could be voted on next week.