European stocks set to fall further into correction territory as coronavirus grips markets

, its biggest one-day point drop ever. The S&P 500 and Nasdaq each took just six days to fall from record highs into correction territory.

Global stocks are set for their worst week since the financial crisis in 2008, with the MSCI World index down 9%, while the pan-European Stoxx 600 is on course for its worst week since August 2011. As of Thursday, China had confirmed 78,824 cases and 2,788 deaths, while South Korea confirmed an additional 256 cases to bring its total to 2,022. First cases have now been reported in New Zealand and Nigeria.

In other news, Britain set a frosty tone for its talks with the European Union, threatening to walk away from negotiations for a new free trade agreement if significant progress is not made by June.has agreed to sell its elevators division to a consortium of Advent, Cinven and Germany's RAG foundation in a 17.2 billion euro deal, the company announced late on Thursday.

A slew of economic data is due out of the euro zone Friday. French inflation numbers for February are set for release at 7:45 a.m. London time, before German unemployment rates at 8:55 a.m. and Italian inflation figures at 10 a.m.

'Experts' on Biz-TV (across the world) OWE an explanation to their viewers w/ statistical evidence for the correlation b/w market corrections and epidemics since WW2. nifty sensex

'terriotry' What millennial you guys have writing these late night story? SCREENSHOT! 🤣😆

This virus is used to reset the financial world. The unsustainable high markets, which were kept artificially high by printed money, are now draining them. Corona is the culprit, not the FED, is the goal now!

Dip buyers this week

Sad sad

Just a global debt correction. A debtvirus.

territory**

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