European shares in a red sea of Nile; hit 7-yr lows as Italy death toll nears China



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European shares in a red sea of Nile; hit 7-yr lows as Italy death toll nears China

On Wednesday, the 18th of March 2020, a slew of European stock indices had jolted further in to a bearish territory, while the regional pan-European STOXX 600 had reported its lowest level in nearly seven years as recent stimulus measures of a number of Central Banks’ of the bloc had failed to offset worries regarding coronavirus outbreak’s financial fallouts.

In point of fact, further worsening of coronavirus outbreak in Europe with Italy reporting the highest number of deaths in a single day due to Covid-19 infection had weighed heavily on to investors’ optimism, while the regional pan-European STOXX wrapped up the day down by 3.9 per cent, erasing nearly all of its yesterday’s (March 17th) gains stemmed from a havoc-scale stimulus unveiled by the Spanish Government.

Apart from that, reveal of a research report on Covid-19 cases conducted by the British scientists that showed nearly 30 per cent of United States' entire population would likely to be affected by the coronavirus pandemic, had added to investors’ worries further.

In tandem, the Spanish flu or Influenza outbreak of 1918, the last true pandemic before Covid-19, had killed more than 50 million people across the globe and left a deeper wound on global economic growth for years. Meanwhile, echoing the tones of a majority of Wall St.

lenders who believed that the US economy had already entered in to a recession following an apparent stagnation last month, the director of research at fund flow data provider EPFR, Cameron Brandt said on Wednesday (March 18th), “I think we’re probably already in a recession.

I don’t see any avoiding that on either side of the Atlantic. ” Citing statistics, on Wednesday’s (March 18th) European market wind down, London’s FTSE 100 faltered 4.05 per cent to 5,080.58, London’s mid-capped FTSE Mid 250 took a heavy header of 6.58 per cent to 13,008.19 and Frankfurt’s DAX dwindled 5.56 per cent to 8,441.71, while Madrid’s benchmark IBEX 35 fell by 3.44 per cent to 6,274.80.

Elsewhere in the Europe, French CAC 40 wrapped up Wednesday’s (March 18th) down by 5.94 per cent to 3,754.84, while Italy’s benchmark FTSE MIB lost 1.27 per cent to 15,120.48.