BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks tumbled on Tuesday as growth worries coupled with concerns over a potential pandemic linked to the coronavirus outbreak in China sparked demand for safe-haven assets.
News that three katyusha rockets fell close to the U.S. embassy in the Green Zone in Iraqi capital also weighed on markets.
The pan-European Stoxx 600 was down 0.7 percent at 420.91 after declining 0.1 percent on Monday. The German DAX gave up half a percent, France's CAC 40 index was down about 1 percent and the U.K.'s FTSE 100 was losing 1.1 percent.
Luxury goods makers were among the worst hit, with LVMH, Kering, Hermes and Burberry falling 2-4 percent amid the increased threat of infection as hundreds of millions travel for the Lunar New Year holiday, the Chinese-speaking world's busiest travel season.
UBS, Switzerland's largest bank, plummeted 5 percent after cutting its profitability targets.
Wacker Neuson shares slumped 8.5 percent. The German company cut its EBIT margin outlook for its fiscal year 2019, citing margin pressure resulting from efforts to sell off large volumes of new equipment and an impairment on raw materials in North America.
Heidelberger Druckmaschinen lost 3 percent after flagging full-year net loss.
Mining giant BHP declined 1.8 percent after releasing its December quarter production report.
Low-cost airline easyJet soared 4.5 percent after it reported a solid rise in first-quarter revenue.
Lonza Group, a supplier to the pharmaceutical, healthcare and life-science industries, rallied 3.5 percent after its fiscal 2019 profit climbed 15.3 percent to 763 million Swiss francs from last year's 659 million francs.
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