European stocks sink further

March 06, 2020: European stock markets sank further Friday in morning trading in a fierce global sell-off as traders fretted that the coronavirus crisis is set to continue for some time.

Milan's FTSE-Mib lead the losses, falling 3.1 percent to 20,890 points around 0840 GMT.

Investors are worried about the economic fallout of the coronavirus, and Italy has been hit with the biggest outbreak in Europe.

London's benchmark FTSE 100 index of major blue-chip companies was down 2.1 percent at 6,566.90 points.

In the eurozone, Frankfurt's DAX 30 shed 2.6 percent to 11,633.39 points and the Paris CAC 40 dropped 2.7 percent to 5,218.60, compared with the closing levels on Thursday.

In Asia, Hong Kong and Shanghai stocks also tanked as the coronavirus crisis overshadows government and central bank moves to limit the economic impact.

“It was a sour end to the week for markets as investors' hopes over a full blown equity recovery were dashed,” said AJ Bell investment director Russ Mould.

“Following renewed selling on Wall Street last night, Asia, Europe and UK stocks traded lower on Friday as markets remained very fearful about the economic and social impact of the coronavirus,” he added.

AFP/APP

Posted on: 2020-03-06T14:33:00+05:00

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