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Milan stocks lose €20bn amid global strife

The Local Italy
The Local Italy - [email protected]
Milan stocks lose €20bn amid global strife
Milan stocks fell 3.42 percent in early trading on Thursday. Photo: Stock market photo: Shutterstock

Milan stocks tumbled 3.42 percent in early trading on Thursday, wiping €20 billion off share price value, amid global concerns over a slowing economy.

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Shares in many companies were suspended due to the heavy losses, Ansa reported, sparked by dismal economic figures from the US, falling oil prices, a sluggish recovery in Europe and low inflation.

The drop in indices across Europe was led by Greece main stock index, which plummeted 6.3 percent to a 14-month low.

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