8:25 AM · 24 February 2020

BREAKING: European indices crater on new coronavirus cases

Just few days ago European indices were at their multi-year highs, including the ITA40 that was at the highest point since 2008. The market looks completely different today as Italy is down by 4% (!), followed by French FRA40 (-3%) and German DE30 (-2.8%). This is a result of virus contagion to South Korea and Italy. Korea has just reported new 70 cases and investors are concerned that this could be just the beginning. For ITA40 this marks a sharp reversal from a zone that worked that way in the past.

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