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**

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's how long stock market corrections last and how bad they can getHere's what you need to know about how long and how severe the typical correction tends to be, according to CNBC and Goldman Sachs analysis. I don’t think this virus is going to be cured by low interest rates ..I also think the mkt is scared that corona will be trumps Katrina which is here in sanders as president The real question now is if coronavirus causes a US recession. It will almost assuredly cause Chinese recession, but will it cause global and US recession? If so, voters probably won't care about the cause come November. Doesn't matter, Trump will claim a success whatever happens!
Source: CNBC - 🏆 12. / 72 Read more »

Stocks enter correction, Dow plunges by 780 points, as coronavirus fears multiplyA correction indicates a drop of 10 percent from the 52-week high, making this the worst week for Wall Street since the financial crisis.
Source: YahooNews - 🏆 380. / 59 Read more »