European stock markets closed sharply lower on Monday after fears of an oil price war among exporting giants compounded by the coronavirus impact triggered a sell-off
MOSCOW (Pakistan Point News / Sputnik - 09th March, 2020) European stock markets closed sharply lower on Monday after fears of an oil price war among exporting giants compounded by the coronavirus impact triggered a sell-off.
FTSE 100, a benchmark for the UK's largest companies, plummeted 7.69 percent to 5,965.77 points after Shell and BP saw their shares fall.
French CAC 40 dived 8.39 percent to 4,707.91 points, while Germany's DAX lost 7.94 percent, landing on 10,631.63 points.
Italy's stock market index FTSE MIB was hit the hardest, posting an 11.17 percent loss and plunging to 18,475.91 points, its biggest fall since the 2008 financial crisis.
