Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

European shares slump as coronavirus fears worsen

Published 01/27/2020, 04:23 PM
Updated 01/27/2020, 04:24 PM
European shares slump as coronavirus fears worsen
FCHI
-
LVMH
-
PRTP
-
HRMS
-
STOXX
-
SXPP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Jan 27 (Reuters) - European shares dropped sharply in early
trading on Monday as growing concerns over the potential
economic damage from a fast-spreading coronavirus sapped demand
for riskier assets.
Death toll from the outbreak in China rose to 81 and the
virus spread to more than 10 countries including France, Japan
and the United States. Some health experts questioned whether
China can contain the epidemic. The pan-European STOXX 600 .STOXX declined 1.5% by 0808
GMT after hitting a record high in the previous session.
Shares of mining firms .SXPP slumped 3.1%, dragged down by
their exposure to China, and fell the most among all the major
European subsectors that were trading in the red.
France's CAC .FCHI lagged regional bourses as luxury goods
makers such as LVMH LVMH.PA , Hermes HRMS.PA and Gucci owner
Kering PRTP.PA , which are heavily reliant on Chinese demand,
fell between 2% and 3%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.