Italy FTSE MIB is down by over 4.7% on the day
The pain train continues for European equities to start the week and Italian stocks are being hit the hardest amid the risk aversion in the market this morning.
This comes after the number of coronavirus cases in Italy soared over the weekend, rising to 152 219 cases (as of latest update today) - the largest outside of Asia - giving rise to fear about a contagion in Europe.
Lombardy is the main region affected but fear is already spilling over to the likes of Venice with the museums there reportedly being ordered to shut down and the Venice Carnival being called off as a precautionary measure.
Meanwhile, the long-term gauge of euro area inflation expectations has also fallen to its lowest level since October - something that won't please ECB policymakers:
