European markets closed lower Thursday as fears over rising U.S. coronavirus cases appeared to offset hopes of a potential economic recovery.

The pan-European Stoxx 600 closed 0.8% lower provisionally, with utilities stocks leading the losses as most sectors traded in negative territory. Technology shares bucked the trend with a 0.8% gain.

Market sentiment has been rattled of late by the persistently rapid spread of the coronavirus in the U.S., where the number of cases surpassed the 3 million mark on Wednesday, according to Johns Hopkins University. Stocks in Europe had earlier traded higher amid optimism over the prospects of a recovery for the global economy, as signs of progress emerge in data and scientific discovery.

Source: CNBC