European Stocks Dive 4% On 'coronavirus Carnage'

Europe's major stock markets slumped more than four percent on Thursday, hammered by mounting concerns over the spreading coronavirus outbreak

London, (UrduPoint / Pakistan Point News - 27th Feb, 2020 ) :Europe's major stock markets slumped more than four percent on Thursday, hammered by mounting concerns over the spreading coronavirus outbreak.

In late afternoon deals, London's benchmark FTSE 100 index tanked 4.1 percent to 6,752.68 points, the Paris CAC 40 shed 4.3 percent to 5,443.11 and Frankfurt's DAX 30 slid 4.1 percent to 12,254.94 compared with Wednesday's closing levels.

"There was more coronavirus carnage on the markets," Spreadex analyst Connor Campbell told AFP.

He underscored "western indices falling as much as four percent as investors greeted a surge in new cases, another round of profit warnings and Mike Pence's appointment as head of the outbreak in the US."Campbell noted that "this is one of the worst weeks in recent memory and terrifyingly, it's not over yet. Friday is a tricky proposition."