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European shares sink again as coronavirus deaths mount

Published 23/03/2020, 09:12
© Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 23 (Reuters) - European shares were stuck near
seven-year lows on Monday after several countries expanded
measures to curtail the spread of the coronavirus pandemic, with
Italy banning even domestic travel as the number of fatalities
there topped 5,400.
The benchmark STOXX 600 index .STOXX was down 4.6% at 0806
GMT, with bourses in Germany .GDAXI , Spain .IBEX and London
.FTSE leading declines.
The relentless spread of COVID-19, the disease caused by the
novel coronavirus, has forced entire countries to self-isolate
and brought economic activity to a grinding halt, driving the
biggest global market sell-off since the 2008 financial crash.
MKTS/GLOB
With growing evidence of the corporate damage from paralysed
supply chains and consumer spending, analysts have suggested the
global economy was already in recession. Planemaker Airbus AIR.PA fell another 12.7% after saying
it was withdrawing its 2020 financial forecast, dropping a
proposed 2019 dividend and suspending funding to top up staff
pension schemes.

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