European markets following the Asian ones show negative dynamics

Europe’s key stock indices lost over 3 percent on Wednesday morning

Europe’s key stock indices on Wednesday showed negative dynamics amid unfavorable news related to the coronavirus pandemic.

London FTSE, Paris CAC-40, and Frankfurt DAX lost over 3 percent by mid-morning. Asian markets, led by Japan’s Nikkei index, which fell 850 points, or 4.5 percent, had previously suffered significant losses.

Investors were excited by new data showing the strongest slowdown in industrial activity in Japan in a decade.

The Hong Kong Hang Seng index lost more than 2 percent by the end of trading on Wednesday, while the Shanghai SSE lost more than 0.5 percent.

Australia’s S&P/ASX index was the only one in the region to show positive growth, adding 3.5 percent.

Wall Street also recorded a loss the day before: the Dow Jones, S&P 500 and NASDAQ indices were down one percent or more. For Dow, the closed quarter was the worst since 1987: the index lost more than 23 percent. S&P fell by more than 20 percent over the same period, the worst quarterly result in a decade.