Europe closes deep in red on coronavirus fears

Tuesday, 25. February 2020 17:30

Major stock markets in Europe finished trading on Tuesday lower as the market pullback continues, driven by concerns regarding the spread of the coronavirus through the continent. Meanwhile, the European Council adopted a negotiating mandate for the new relationship with the United Kingdom. EU's chief negotiator Michel Barnier warned the talks won't be "concluded at any price". In business, Tesco plc said it will be laying off over 1,800 workers starting May amid reorganizational efforts.

The FTSE 100 dropped 1.94% at the end of the session, with Carnival plc decreasing 6.02%. The DAX lost 1.88%, as MTU Aero Engines AG surrendered 4.11%. The CAC 40 was 1.94% lower, with BNP Paribas S.A. tumbling 4.49%.

The euro advanced 0.25% against the dollar at 5:29 pm CET, selling for $1.08799. The pound increased 0.65% concurrently, changing hands for $1.30115.

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Breaking the News / MD