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European Stocks Extend Losses, Now Down 11% And On Track For Worst Day Ever
Thursday, 12 March 2020 23:45 WIB | MARKET UPDATE |Stoxx 600Saham Eropa

European markets were on track for their worst one-day drop in history on Thursday afternoon, as investors reacted to President Donald Trump™s decision to impose restrictions on travel to the U.S. from some countries in Europe, and the European Central Bank™s decision not to cut interest rates.

The pan-European Stoxx 600 plummeted 10% in afternoon trade at 294.89, with travel and leisure stocks sinking 12.6% following Trump™s announcement of a ban on European travel.

Trump said Wednesday that the U.S. will suspend all travel from Europe to the U.S. for 30 days to curb the spread of coronavirus. The new rules will go into effect on Friday night. The measures will affect 26 European countries that are part of the visa-free Schengen area. The U.K. and Ireland are exempted from the restrictions, as are American citizens who have undergone virus screening.

Source : CNBC

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