Japanese and European stocks plunge as Italy implements lockdown

10.03.2020 - Korneychuk Evgeniya
Japanese and European stocks plunge as Italy implements lockdown

Italy has shut down all its ports and airports, disrupting financial markets and showing how the coronavirus has affected social and economic aspects globally.

Major European stock markets plunged over 7%, Japanese indexes slipped 5%, and US markets lost more than 7% after Saudi Arabia started an oil price war with Russia, causing investors to back out of trading in a market already harmed by the epidemic.

The Italian government has moved to drastic measures in an attempt to contain the virus: instructing citizens not to travel across the country unless it was for emergency or for work. The government has also canceled sporting events and public gatherings.

In Milan’s Lombardy region, number of deaths spiked 25% in one day, at 333, while national death toll rose 97, at 463, making Italy the highest number of deaths outside China.

The total confirmed cases globally reached 113,000, with 9,000 infections recorded in Italy. The global death toll had amounted to 4,000, mostly from mainland China, as of Tuesday.

World Health Organization Director-General Tedros Adhanom Ghebreyesus expressed that as the virus had affected more than 100 countries, the threat of pandemic is becoming more imminent.

Tedros said that there was no problem with Italy’s drastic measures, and noted that 93% of cases globally was tallied in four countries—China, Italy, Iran, and South Korea.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?