European stocks pull back as coronavirus concerns weigh on sentiment

European stocks retreated on Wednesday as concerns over the coronavirus outweighed optimism over the European Union’s recovery fund.

The pan-European Stoxx 600 slipped 0.9% in early trade, with travel and leisure stocks shedding 2% to lead losses as all sectors except financial services slid into negative territory.

European stocks had advanced Tuesday after European Union leaders reached a deal on a 750 billion euro ($862 billion) recovery fund to help the region recover from the coronavirus crisis.