US and European equities slid on Wednesday as coronavirus cases soared across both regions.
The US benchmark S&P 500 fell 3 per cent in afternoon trade, putting it on course for its worst weekly performance since the market ructions in March. More than 90 per cent of the stocks that make up the index were lower. The tech-heavy Nasdaq Composite dropped 2.9 per cent.
Europe’s Stoxx 600 closed down 3 per cent, leaving it nearly 6 per cent below its level at the end of last week and at its lowest since May. German and Italian markets were among the worst hit across the region, each falling more than 4 per cent, while London’s FTSE 100 declined 2.8 per cent.
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