European Shares Drop as Coronavirus Fears Intensify


European shares fell for the second straight session on Monday, as fears about the economic hit from the coronavirus pandemic intensified with several nations extending near-total lockdowns to curtail the spread of the flu-like disease.

30 March 2020 | HYCM –Everywhere we look it is doom and gloom. One of the sad things about working in finance is seeing trouble coming before most of your friends and family. Many thought that some people and media were overreacting about COVID19.

In February there were hopes that this COVID19 would just be the ‘flu’ in a different form. Sadly, it was wrong. COVID19 is no joke and most of the world is sat at home while stock markets tumble, oil looks like heading to $10 and below and some unfortunate few are losing their lives.

These are sad times and we are living through a historic moment. Those who come out of this time will come into a different world. However, not all are being battered by the storm.

Weathering the storm

European shares are heading for their worst quarterly drop in 33 years. However, among the multitude of losers, there are some winners bucking the trend and not just surviving, but thriving. The main winners have been health care companies, food deliverers and video-game makers. Traditional defensive sectors have also seen increasing demand.

Take a look at this chart below outlining some of the European winners:

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