European stock markets quickly dropped to the negative Monday, after advancing at the opening bell.
In addition to worries over the coronavirus pandemic, the decision of the European Central Bank to ask banks not to pay dividends on their stock or buy back shares until October contributed to the dive.
DAX in Germany is down about 1.5%, a better showing than other indexes. The IBEX 35 in Spain is down more than 3.5%.
Asian markets also fell during Monday’s trading session, closing in the negative as investors continued to be worried by the coronavirus pandemic that has ground the world’s economy to a halt.
Hong Kong’s Hang Seng index had lost over 330 points, or 1.45% at its closing bell, while the Nikkei in Japan was down more than 300 points or 1.57% and the Shanghai closed off nearly 1%.
Australia’s S&P/ASX was a bright spot among the regional indexes, trading nearly 5% higher on government promises of more aid for the troubled economy.
In the U.S., futures were about 1% lower, suggesting another rough start for U.S. markets Monday.