Europe: Stocks record worst daily loss on record

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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