The BEL20, the index grouping the most important shares on the Brussels stock exchange, showed losses of more than 5 per cent in the first few minutes of trading on Monday. After noon the BEL20 was still down over 4%.
VRT financial journalist Steven Rombaut says: "The bottom seems to have been knocked completely out of the market. Investors are running away from equities."
"The losses are again very big this morning," says VRT NEWS journalist Steven Rombaut as he interprets the opening of the European stock markets. ‘On average they are losing about 6 to 7 per cent, the Brussels Bel20 about 5 per cent.’
"Once again, shares of industrial companies and banks in particular are taking heavy hits. The bottom seems to have been knocked completely out of the market. Investors continue to sell large amounts of shares because at the moment there are no signs that this trade war can subside. They fear that the economic consequences will be huge, which is why they are fleeing from equities."