• Wednesday, February 19, 2020
  • Business - Stock Market
  • Updated: Jan 28, 2020

Coronavirus: European Stocks Sink

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Joan Oyemolan

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Europe’s main equity markets experience stock sink at the open on Monday, as investors panic over deadly coronavirus.

From the previous record, London’s benchmark FTSE 100 index of major blue-chip companies sank 1.6 percent to 7,468.72 points compared with the close on Friday.

In the eurozone, Frankfurt’s DAX 30 index also lost 1.6 percent to 13,359.03 points and the Paris CAC 40 dived 1.7 percent to 5,923.36.

Ava Trade analyst Naeem Aslam speaking on the issue said;

“Market participants in Europe have grave concerns about coronavirus as the death toll increased to 80 and more than 2,700 victims infected in China,”

“The bottom line is that the virus has become deadly and it has caused a major panic in markets.”

Since the out break of the dreaded coronavirus, stock market productivity has relatively reduced.

Due to this outbreak, China biggest business city Wuhan which is the epicenter of the disease has been locked down.

In addition, the China has also placed restriction on other cities like Beijing. (AFP)

 

 

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