The FTSE 100 saw a six-week low on Monday as investors were selling over fears and the impact of the coronavirus.
The blue-chip index suffered a serious blow falling 173.93 points, down by 2.29% to 7412.05, only four of the 100 listed firms closed up.
The German Dax 30 was down 2.75% and the French Cac 40 lost 2.68%. Brent Crude fell 2.87% to $58.92 a barrel at the close of the stock market.
Connor Campbell, financial analyst at SpreadEx, said: “Prior to the outbreak, this week would have been notable for Mark Carney’s final meeting as Bank of England governor, an outing that could see the MPC cut interest rates, alongside the UK’s long-trailed withdrawal from the EU.
“Instead it looks like those major macro events may end up as background noise to the market-tanking concerns surrounding the virus, and the potential impact it will have on the Chinese, and therefore global, economy.”