(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 12 (Reuters) - European shares plummeted to their
lowest in almost four years on Thursday as investors were
rattled by dramatic travel restrictions imposed by U.S.
President Donald Trump in an attempt to halt the fast-spreading
coronavirus.
Trump on Wednesday suspended travel from Europe to the
United States for 30 days, responding to mounting pressure to
take action against the outbreak, which the World Health
Organisation now classifies as a pandemic. The benchmark STOXX 600 index .STOXX fell 4.9%, with the
sub-index of travel and leisure stocks .SXTP shedding 8.6% to
hit its lowest in more than six years.
Joining a growing list of corporate casualties of the
outbreak, WH Smith SMWH.L forecast a 40 million pound ($51.25
million) hit to annual profit, while airport retailer Dufry
DUFN.S said it would cut jobs after posting a 7.3% slump in
organic sales. Their shares fell 17% and 16.8%, respectively.
A third high profile corporate victim of the outbreak,
cinema operator Cineworld CINE.L , sank another 20% after it
said that a worst case scenario for the virus outbreak could
cast doubt on its ability to continue as a going concern.