European stocks slumped in opening trade on Thursday, with the Stoxx Europe 600 SXXP, -5.11% losing over 3% and falling to its lowest level since July 2016.
The losses came as the World Health Organization declared a pandemic and President Trump announced he was restricting travel from Europe for 30 days. Lufthansa LHA, -9.63% dropped over 9%. The European Central Bank is meeting later on Thursday with traders looking for some sort of loosening from the central bank which already has negative deposit rates. Futures on the Dow Jones Industrial Average YM00, -4.09% were down close to 1000 points.
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