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CAC 40 Tumbles On Growth Worries

French stocks fell sharply on Wednesday after the Trump administration warned that the coronavirus pandemic could kill 250,000 Americans and that the next two weeks will be "very painful".

Weak manufacturing data from Asia and Europe also fueled fears of a global recession.

Eurozone manufacturing activity contracted at the fastest pace in more than seven years in March as the outbreak of coronavirus, or covid-19 weighed on orders, output, employment and confidence, final data from IHS Markit showed.

The final factory Purchasing Managers' Index fell to 44.5 from 49.2 in February. The reading was also below the flash estimate of 44.8.

France's final factory PMI declined to 43.2 from 49.8 in February. The flash reading was 42.9. The final score signaled the sharpest fall since January 2013.

The benchmark CAC 40 plunged 162 points, or 3.68 percent, to 4,234 after closing 0.4 percent higher the previous day.

Lender Societe Generale plummeted 5.7 percent. The bank announced that it is suspending fiscal 2020 targets and dividends due to the coronavirus or Covid-19 pandemic.

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