Travel stocks, financial services, chemical and technology stocks were among the worst hit. FMTNews Stock
LONDON: European shares fell to a near four-month low on Wednesday, as the fast-spreading coronavirus deepened fears about its impact on global growth with marquee companies sounding the alarm on earnings.
Travel stocks, financial services, chemical and technology stocks were among the worst hit, falling between 3% and 4%. The STOXX 600 is trading 9.4% below the record highs hit just last week, while the past four trading sessions has wiped out about US$3 trillion in value of world stocks. “Longer the shutdown lasts, then more likely that some of that production might never come back because companies might go bankrupt and people are also starting to take unpaid leave.”
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