The European Commission unveiled an economic recovery proposal worth in total 1.85 trillion euros to help EU member states recover from their coronavirus slump.
Investors left behind China-U.S. trade tensions and focused their interest on more stimulus in China and businesses worldwide which gradually reopened following a months-long lockdown.
Global financial markets were already struggling to deal with enormous economic uncertainty while optimism around the re-opening of the economies and stimulus fades away.
A deterioration in US-China trade ties compounded fears of a slower recovery from the economic damage wreaked by the COVID-19 pandemic.
Oil prices rose to their highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and demand recovery as governments ease restrictions.