European Stocks Slump, Entering Correction Amid Virus Warnings

(Bloomberg) -- European equities extended their sharp losses, with the Stoxx Europe 600 Index down 10% from its record high hit a week ago as more companies warned that the coronavirus would hit profits, while cases of the epidemic outside China increased.

The drop in the benchmark intensified to 3.5% on Thursday, sending it into correction territory. Anheuser-Busch InBev NV and Standard Chartered Plc were among the latest companies to sound the alarm about the outbreak’s impact on earnings.

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