BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks plummeted deep into the red on Monday to extend losses from the previous session amid fears that the euro zone could be dragged into recession.
The European Union (EU) needs a 'massive' economic stimulus package to fight with the negative impact of the coronavirus outbreak, French Finance Minister Bruno Le Maire said today.
Italy announced it is to quarantine almost a quarter of its population in the country's north until April 3, to try to contain the coronavirus outbreak.
Investors also kept an eye on oil price movements after Saudi Arabia slashed its official prices by the most in at least 20 years over the weekend and signaled to buyers it would ramp up output.
Oil prices crashed as much as 30 percent, raising concerns that it will have big repercussions for U.S. energy producers, which face lower prices and a potential loss of customers.
The benchmark CAC 40 was down 331 points, or 6.44 percent, at 4,808 after plunging as much as 4.1 percent on Friday.
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