European stocks extended a historic week of losses on Friday as the coronavirus outbreak continued to pummel global markets into correction territory.
The pan-European Stoxx 600 closed 3.8% lower at 374.69 as markets around the world tanked. The benchmark lost 12.7% for the week, its worst since October 2008 at the height of the global financial crisis.
Basic resources dropped 4.6% to lead losses as all sectors and major bourses traded sharply in the red. Britain's FTSE 100 lost 3.7% on Friday, France's CAC 40 index was down 4% and Germany's DAX fell 4.5%.
European stocks entered correction territory on Thursday, falling 10% below the record highs seen on Feb. 19 last year, as the rapid spread of the coronavirus beyond China caused global markets to nosedive.
Source : CNBC