European stocks all-time low Record decline of more than 16% in Italy at 4:14 on March 13
European stock markets on Thursday saw a surge in selling orders due to concerns about the future of the economy, with share prices falling 16% in the Italian market, where the new coronavirus infection was severe, and in Germany and France. A record drop of over 12%.
The European stock market on Thursday saw a total depreciation as concerns over the economic impact increased as the United States announced measures to suspend entry from Europe except the United Kingdom.
Later, when the European Central Bank foresaw the interest rate cuts that were the focus of the new coronavirus-related economic stimulus, sell orders further escalated and the stock price fell further.
The closing price of the main market stock index fell about 16.9% in the Italian Milan market, where the infection with the new coronavirus is the most severe in Europe compared to the previous day.
Also, the Paris market has dropped by about 12.3%, the German Frankfurt market by about 12.2% and the London market by about 10.9%.
In both markets, the daily rate of decline exceeded the time of the Lehman Shock and recorded a record drop.
Market officials said, "Disappointment has widened as the European Central Bank has forgotten the cuts in rates that the market has factored in, given the growing alarm that the U.S. action will hurt the European economy. You're falling into something. "