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CAC 40 Tumbles As China Virus Risks Mount

French stocks tumbled on Tuesday, with China-linked shares falling heavily as worries grew about a new virus that has killed four people and sickened more than 200 so far in the country.

Meanwhile, after the Bank of Japan left its key interest rate unchanged, investors now await the ECB meeting on Thursday, where the central bank is expected to launch a comprehensive review of central bank strategy, including the ECB's inflation target.

The benchmark CAC 40 was down 66 points, or 1.09 percent, at 6,012 after losing 0.4 percent the previous day.

Luxury goods makers were among the worst hit, with LVMH down 3 percent, Kering losing 3.4 percent and Hermes falling 2.4 percent amid the increased threat of infection as hundreds of millions travel for the Lunar New Year holiday, the Chinese-speaking world's busiest travel season.

Banks BNP Paribas, Credit Agricole and Societe Generale were down around half a percent after Swiss lender UBS Group cut its profitability targets.

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