European stocks drop further as COVID-19 spreads

Wednesday, 18. March 2020 11:41

Major European stock market indexes extended their losses on Wednesday after the global coronavirus cases tally surpassed 200,000 following new reports of infections from Germany, Austria, Israel and others. Meanwhile, economic data showed that the Eurozone had a trade surplus in January of €1.3 billion and that inflation in the euro area dropped to 1.2% in February.

The DAX plunged over 400 points as it lost 4.94% at 11:33 am CET. MTU Aero Engines NA O.N. led the losses as it declined 15.59% at 11:34 am CET. France's CAC 40 fell 5.70% at 11:36 am CET as Airbus dropped 14.04% at 11:22 am CET. The FTSE 100 was 4.87% down at 11:38 am CET, with Meggitt PLC plummetting 21.56% at 11:23 am CET.

The euro was flat against the dollar, going for 1.10016 at 11:39 am CET.

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Author:
Breaking the News / VP