The European markets opened significantly lower today, ignoring all the stimulus pledges by governments this week, as the deadly Covid-19 pandemic continues to spread.
Britain’s FTSE 100 is plummeting more than three percent during early trading in London. Stock markets in Germany and France are down over two percent and the Spanish markets are dramatically lower.
The market fall comes as EU leaders fail to come to an agreement over the economic response to the coronavirus pandemic. During a video conference summit on Thursday, the leaders of the 27-member bloc argued over how to pull their economies through the crisis, with Italy accusing other member states of having a timid response to the unprecedented economic shock.