The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 5, 2019. — Reuters pic
London’s benchmark FTSE 100 index of major blue-chip companies tumbled 4.8 per cent to 4,943.51 points, Frankfurt’s DAX shed 4.6 per cent to 8,521.94 and the Paris CAC 40 sank 4.4 per cent to 3,870.06, compared with Friday’s closing levels. “Markets are again showing stress on fears that the economic damage will be worse than anticipated and that the response by governments and central banks will not be enough to prevent a mammoth recession,” said analyst Neil Wilson at trading site Markets.com.
The global death toll from the virus has surged past 14,400, with nearly a billion people confined and non-essential businesses shut in dozens of countries and growing fears about a recession.
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