European shares sharply declined on Monday, as growing concerns about the potential economic damage from fast-spreading coronavirus reduced the demand for risky assets.
the pan-European STOXX 600 fell by 1.41% to 11:16 GMT, led the mining sector lost 3.1 per cent. The CAC fell by 1.68% on the background of falling share of manufacturers of luxury goods, dependent on the situation in China such as LVMH, Hermes and Gucci owner Kering. The German DAX fell by 1.47%. Britain's FTSE 100 was down 1.5 percent.
On the territory of the provinces of China with a population exceeding a billion people, the authorities introduced the maximum level of threat. The number of deaths in the outbreaks of coronavirus on Monday rose to 81, while the PRC government has extended new year holidays, and a number of major companies suspended the work in an attempt to contain the spread of the disease.
