European shares slide 8% as regional coronavirus shutdown widens

European markets plunged on Monday as much of the region went into shutdown mode to prevent the spread of the new coronavirus.

The pan-European Stoxx 600 dropped 8% near the start of trading, travel and leisure stocks plummeting 14.3% to lead losses as all sectors and major bourses slid into the red.

Markets on Monday are reacting to the shutdown taking place on the continent. Spain has imposed a 15-day nationwide lockdown, banning its 46 million citizens from all-non essential movement. The country imposed the state of emergency decree, as it confirmed the highest number of COVID-19 cases in Europe, after Italy.