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European stock markets closed lower last night (April 21) as investors worried about falling US crude prices. And a slow quarterly report for publicly traded companies. This reinforces existing concerns about the global economic damage caused by the Covid-19 virus outbreak.
The Stoxx Europe 600 fell 3.39% to close at 324.31.
The French CAC-40 stock market closed at 4,357.46 points, 170.84 points or -3.77%, the German stock market DAX closed at 10,249.85, 426.05 points or -3.99%, and the FTSE 100 stock market in London closed at 5,641.03 points, 171.80 points or -2.96%
European stock markets plunged Under pressure from the contract for US crude to plummet to a record low below $ 0 for the first time. With traders pouring oil contracts, to be delivered in May. Because the storage facility already has full oil capacity
Energy shares continued to drop, with BP 3.03%, Shell shares 2.46% and Total shares 3.79%.
Stocks of base material also fell. Especially BHP shares plummeted 6.44% after the company warned that World Steel Production except China will drop violently due to the effects of the Covid-19 virus outbreak.
Eve Raz, a steel and mining company AND Anthony Fagasta shares He Who Produced Copper fell 11.24% and 8.19% respectively.
Furthermore, the market is under pressure due to the disclosure of the first quarter results. Many multinational companies have announced the cancellation of dividends. And cancel the financial statement forecast to deal with the effects of Covid-19
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