European stocks plunged in premarket trade
on Monday, with losses posted in the worst selloff since 2008 set to extend
into this week.
The number of newly discovered coronavirus cases is surging across the Old Continent, with Italy being the hardest hit by the outbreak. Yesterday, the Italian authorities reported as many as 368 new COVID-19 deaths, the biggest single-day increase in fatalities. Other countries have also reported a rise in new cases while media reports indicated that a further tightening of measures to stave off the impact on the economy is in the making.
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