Europe plunges in premarket, DAX slumps 7%19 Mar 2020 06:36
Equities on major European stock markets plummeted in premarket trade on Thursday as the coronavirus crisis deepened across the continent.
The outbreak took 475 lives in the past 24 hours in Italy, raising the death toll from the infection to nearly 3,000 nationwide while over 35,700 people were tested positive. Germany had the largest jump in coronavirus cases since the beginning of the epidemic on Wednesday while Spain confirmed over 100 new deaths from COVID-19 yesterday.
Meanwhile, the European Union failed to reach a deal on blocking short-selling despite the fact that France, Italy, Spain, Belgium and Austria already adopted a ban to stop the selloff.
The DAX slumps 6.98% at 7:30 am CET while the FTSE 100 in London sank 5.36% at the same time.
The euro rose 0.14% to go for $1.09270 at 7:29 am CET.
Breaking the News / GA