European markets after Asian markets show negative dynamics

Europe’s key stock indexes lost more than 3 percent on Wednesday morning.

Key European stock indexes on Wednesday showed negative dynamics on the background of unfavorable news related to the coronavirus pandemic.

London’s FTSE, Paris’s CAC-40, and Frankfurt’s DAX all lost more than 3 percent by mid-morning. Earlier, Asian markets also suffered significant losses, led by the Japanese Nikkei index, which fell by 850 points or 4.5 percent.

Investors were excited by new data showing the strongest slowdown in industrial activity in Japan in a decade.

Hong Kong’s Hang Seng index lost more than 2 percent by the end of trading on Wednesday, while the Shanghai SSE lost more than 0.5 percent.

The Australian S&P/ASX index was the only one in the region to show positive dynamics, adding 3.5 percent.

The day before, losses were also recorded on Wall Street: the Dow Jones, S&P500 and NASDAQ indexes went down by one percent or more. For the Dow, the final quarter was the worst since 1987: the index lost more than 23 percent. The S&P has fallen more than 20 percent over the same period, its worst quarterly performance in a decade.

Google News button