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European stock markets down sharply in the face of the spread of the epidemic

The biggest drop came in Frankfurt, the flagship index of the German market, the Dax, having dropped 3.85%.

European stock markets opened Friday’s session sharply lower, in the wake of Asian markets, investors feared the worst due to the spread of the coronavirus epidemic.

The biggest drop came in Frankfurt, the flagship index of the German market, the Dax, having dropped 3.85%.

“The fire in the Dax seems out of control,” to the point of raising fears of a “stock market crash,” said Timo Emden, analyst at Emden Research. “The only thing that matters to investors is the precautionary principle, and the monitoring of developments in the coronavirus.”

Madrid and London lost 3.11% and 3.05% respectively, bringing their decline to more than 11% in one week, while Milan dropped 3.08%.

The Paris Stock Exchange, for its part, sank further (-3.36%) at the opening, approaching the floor of 5,300 points, a level seen more since the end of August 2019.

In Asia, the Tokyo Stock Exchange suffered another massive fall, while Shanghai was down almost 4% and Shenzhen about 5% at the close.

In such a situation, the end of which cannot be predicted, “the sale calls for the sale,” said Seiichi Suzuki, an analyst at the Tokai Tokyo Research Institute, saying he does not know when the collapse will stop.

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