In America the Dow lost 3.43 percent whilst the S&P saw 3.53 percent of its value shaved off. Japan’s Nikkei 225 performed better only falling by 0.26 percent. At the end of trading on Wednesday the FTSE 100 was at a six month low with Wall Street also experiencing a major rout.
Wednesday saw French president Emmanuel Macron announce a second month long national lockdown in response to a surge in COVID-19 cases.
Under the rules people will only be allowed to leave their homes for “essential journeys”.
Additional restrictions have also been announced in Germany and Spain.
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6.00am update: Asian stock markets slump over COVID fears
Asian stock markets lost ground on Thursday as the number of coronavirus cases continues to surge in Europe and North America.
Japan’s Nikkei fell by 0.8 percent whilst the Hong Kong, Shanghai and Sydney markets all fell by less than 1.5 percent.
It followed an overnight rout which saw the Dow fall by 3.43 percent.