European stock markets plunge over 3pc on virus fears

LONDON, Feb 28 — European stock markets extended their coronavirus-fuelled plunge at the start of trading on today, with leading indices crashing more than 3.0 per cent in “panic mode”.

Frankfurt’s DAX 30 index dived 3.6 per cent, the Paris CAC 40 slumped 3.1 per cent and Milan’s FTSE MIB shed 2.8 per cent.

Outside the eurozone, London’s FTSE 100 index slumped 2.8 per cent.

“The panic mode is full on,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

“The coronavirus outbreak has certainly hit businesses, and it might have a longer-than-expected negative impact on company earnings and global growth.” — AFP