BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks plunged sharply on Monday as mounting concerns over the potential impact of the spread of coronavirus triggered a sell-off in markets across the globe.
The pan European Stoxx 600 tumbled 2.26%. Among the major European indices, the U.K.'s FTSE 100 declined 2.29%, Germany's DAX shed 2.74% and France's CAC 40 ended down 2.68%, while Switzerland's SMI declined 1.6%.
Among other European markets, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Ireland, Italy, Netherlands, Norway Poland, Portugal, Russia, Spain, Sweden and Turkey all ended sharply lower.
Shares of Airliners, automakers and luxury goods makers ended sharply lower.
In Germany, Wirecard, Lufthansa, Adidas, Linde, SAP, Infineon, Volkswagen and Dalmier ended down 3 to 4.5%.
Among other major losers, HeidelbergCement, Siemens, Allianz, BMW, BASF, Fresenius and Merck declined by more than 2%.
In France, STMicroElectronics declined more than 5.5%. Airbus Group, Technip, Louis Vuitton, ArcelorMittal, Pernod Ricard, Peugeot, Sanofi, BNP Paribas, Essilor Luxottica, Credit Agricole and Michelin lost 2 to 4.5%. Shares of Publicis Groupe and Societe Generale also ended sharply lower.
In the U.K. market, Prudential, IAG, Rio Tinto, Carnival and EasyJet ened lower by more than 5%. Standard Chartered, Anglo American, Johnson Matthey, Burberry Group, BHP Group, Glencore, Standard Life and Informa lost 4 to 5%.
HSBC, Rolls-Royce Holdings, Mondi, 3i Group, Schroders and Legal & General were among the other major losers.
The coronavirus has reportedly killed 81 people in China and has infected more than 2,800 around the world.
According to reports, Chinese authorities have closed off about 20 cities in order to contain the virus.
China's National Health Commission on Sunday said the new coronavirus is contagious even in its incubation period, which lasts up to 14 days, and that the virus' ability to spread is getting stronger.
The virus has reportedly been detected in some other countries in Asia, and also in the U.S., France, Australia and Canada.
The World Health Organization had said on Thursday that the outbreak does not yet constitute a public emergency of international concern and there is 'no evidence' then of the virus spreading between humans outside of China.
In economic news, German business sentiment deteriorated unexpectedly at the start of the year, reflecting companies' more pessimistic outlook for months ahead.
The business climate index dropped to 95.9 in January from 96.3 a month ago, survey data from the ifo institute showed Monday. The reading was expected to rise to 97.0.
Copyright RTT News/dpa-AFX
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