Europe stocks lower as fears about virus overshadowed incentives

US, WASHINGTON (ORDO NEWS) — European equities declined on Wednesday as fears over the continued global spread of coronavirus overshadowed large-scale stimulus measures in the United States aimed at supporting business and containing the economic damage from the pandemic.

The pan-European STOXX 600 index fell 2.76% to 11.30 UTC, while the London FTSE 100 and German DAX fell by almost 4%.

Analysts at JP Morgan said on Wednesday that the devastating blow to the airline industry from the actual suspension of travel around the world will also extend to the European civil aviation sector, sending shares of German aircraft engine manufacturer MTU Aero Engines down 15%.


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