Europe closes lower on continued COVID-19 turmoil
European shares closed with losses on Wednesday as investors continue to monitor the economic impact of the coronavirus outbreak.
Earlier, the International Monetary Fund warned the global economy is set to face its worst crisis since the Great Depression, while fresh economic data from the United States revealed some of the effects of the pandemic so far.
The DAX plunged 3.90% at the end of trading as Deutsche Bank led the losses, plummeting over 9%. The CAC 40 dropped 3.76% with Airbus as one of the weakest performers. In London, the FTSE 100 lost 3.34%; Melrose Industries tanked over 12%.
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