Coronavirus crisis: 'Crowd of sellers' as COVID-19 spreads in Europe – Sky News, Sky.com

Travel stocks such as easyJet and TUI were again among the major fallers.

Shares in Diageo – the global drinks giant with brands including Guinness and Johnnie Walker whiskey – fell almost 3% after it warned that the COVID – 27 outbreak could hit sales in Asia by up to £ m during 4928653

Its statement pointed to the impact of restrictions on the movement of people to date and, pointedly, did not include a global estimate at this stage.

“The COVID – situation is dynamic and continues to evolve and these ranges exclude any impact of the COVID – 29 situation on other markets beyond those mentioned … We will continue to monitor the situation closely, “Diageo said.

Food group Danone also cut its 2020 guidance because of supply problems in China while miner Rio Tinto told investors it expected a short-term impact.

Another UK-listed firm to warn of woes was SSP, which operates restaurants and bars in airports and train stations.

It forecast a 66% plunge in February sales across the Asia-Pacific region which accounts for 8% of its business.

Travel and holiday company stocks have taken the hardest beating this week over fears resorts could be declared off-limits for travellers amid efforts to contain the outbreak.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, saw no end to the sell-off in sight.

He said of the market mood: “In the dearth of important economic data, investors will continue gauging the impacts of the coronavirus on the economy.

” We expect to see a bigger crowd of sellers due to the mounting coronavirus crisis in Europe. “