France's CAC 40 fell 4.4% to 4,204, while Germany's DAX shed 3.9% to 9,546. Britain's FTSE 100 dropped 3.8% to 5,457 after major banks announced they were scrapping dividend payments, bringing their share prices sharply lower.
President Donald Trump warned Americans to brace for a "hell of a bad two weeks" ahead as the White House projected there could be 100,000 to 240,000 deaths in the U.S. Australia's S&P/ASX 200 added 3.6% to 5,258.60, while South Korea's Kospi dipped 3.9% to 1,685.46. Hong Kong's Hang Seng lost 2.2% to 23,085.79, while the Shanghai Composite edged 0.6% lower to 2,734.52.The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year. The virus outbreak abruptly put the clamps on the economy. Benchmark U.S.
Among the next milestones for investors is Friday's U.S. jobs report, which will likely show a sharp drop in payrolls. Companies soon will begin reporting their earnings results for the first quarter. Analysts are looking for the steepest drop in profits since early 2016, according to FactSet.
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