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Corporate Travel Management tumbles 3.7% on European COVID spike.

ASX200 falls; Corporate Travel Management down 3.7% on Europe COVID outbreak; AMP up to defy the market.

The ASX200 is trading 0.62% lower at 7347.50 after lunchtime.

Corporate Travel Management falls 3.7% as Europe COVID-19 cases spike.

AMP up 1.15% to defy the market after opting to keep its Wholesale Office Fund.

The Australian market is trading 0.62% lower today at 7347.50 after lunchtime weighed down by travel stocks that have been sapped by the latest COVID-19 outbreak in Europe.

The tech sector is also down today, falling 0.94%, as Technology One sheds 3.5% and Tyro Payments drops more than 2.5%.

Bitcoin continues its descent this afternoon, trading 1.96% lower over the last 24-hours at US$58,288 at 1pm AEDT.

Travel solutions company Corporate Travel Management has fallen 3.7% today after a spike in COVID-19 cases across Europe prompted a lockdown in Austria and restrictions throughout Germany and other countries. Flight Centre, which is the largest retailer of travel in Australia, is also trading 3%, with the travel sector declining more than the broader market.

Making headlines, AMP’s share price is up 1.15% to defy the wider market after the company said it will remain the manager of its Wholesale Office Fund following a prolonged strategic review and mounting pressure from rival fund managers to oversee the portfolio.

And, a 27-year-old TikTok user has gone viral on the popular social media platform for accidentally swallowing an Apple AirPod after mistaking it for an ibuprofen tablet.

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