European stocks have weakened significantly due to concerns about new restrictive measures against coronavirus. The STOXX 600 index depreciated 3.2 percent to 356.82 points in Monday’s trading.
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“Expect many more restrictions in the coming days and weeks, especially in Europe,” analysts at Deutsche Bank said today, according to CNBC. “The fact that the virus is already spreading fast enough is very worrying,” they added. This is behind the general decline in stock markets. Later in the afternoon and evening, US stock exchanges also lost ground
Shares of banking companies came under pressure following media reports that leading financial institutions had been transferring large amounts of suspicious money for almost two decades. Shares of British banks HSBC, Standard Chartered and Barclays as well as German Deutsche Bank showed a significant decline.
