European Indices Sagged as High as 2016 due to Coronavirus
At the auction on February 24, the composite index of the largest enterprises in the Stoxx Europe 600 region fell by 3.6% - this is the maximum drop since 2016, the agency writes. As of 13:10 Moscow time, its value amounted to 413.33 p.p. The decline comes amid fears that the spread of infection will hurt sales, the agency said. In particular, shares of Louis Vuitton Moët Hennessy (LVMH) fell 7.2%. The London Stock Exchange FTSE 100 Index fell 2.7%, while German Dax and French CAC 40 lost 3.3% each, the media said.
An outbreak of coronavirus infection COVID-19 occurred in December 2019 in the Chinese province of Hubei. Soon the virus spread to other regions of the country and abroad. According to recent reports, over 2.5 people died because of it, the number of infected exceeded 78 thousand.