Europe: Stocks record worst daily loss on record

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[BENGALURU] European shares plunged 11.5 per cent on Thursday, their worst daily loss on record, as responses by governments and central banks to combat the potential economic hit from the fast-spreading coronavirus got a cold welcome. Read more at The Business Times.

The index has now lost nearly a third of its value since mid-February. In another indication of market strife, the Euro Stoxx Volatility Index, considered to be a fear gauge for markets, rose to its highest since the 2008 financial crisis.

Stocks in Italy, the European country most affected by the virus, ended nearly 17 per cent lower, their worst session ever. The Italian government recently initiated a countrywide lockdown. "What's it going to take to put a floor under this - we need to see new cases in Italy begin to level, to plateau, like in China."

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