In European Equity Markets the pan-European Stoxx 600 closed down 0.8%, extending losses after the ECB held its interest rates steady, with President Christine Lagarde’s remarks on the economic outlook for the euro zone seemingly disappointing market participants. Basic resources stocks fell 2.8% while all sectors except utilities, which bucked the trend with 0.6% gains, ended in red. Renault shares fell 6% after Citigroup downgraded the stock to “sell,” while Russian mining company Evraz’s London-listed stock declined 6.7%.

In Currency Markets the U.S. dollar rose against the euro on Thursday after the European Central Bank left unchanged its key interest rates and stimulus programs and launched a broad review of its policy that was likely to see new President Christine Lagarde redefine the ECB’s main goal and how to achieve it. The euro was 0.25% lower against the greenback at $1.1063, its weakest since Dec. 9. Sterling was 0.24% lower, but remained close to a 2-week high hit on Wednesday.

In Commodities Markets oil prices fell on Thursday on concern that the spread of a respiratory virus from China could lower fuel demand if it stunts economic growth in an echo of the SARS epidemic nearly 20 years ago. Brent crude futures were down $1.59, or 2.5%, at $61.62 a barrel, having touched their lowest since Dec. 4. They lost 2.1% in the previous session. U.S. West Texas Intermediate futures fell $1.58, or 2.8%, to $55.85 after falling to their lowest since November. The contract declined 2.7% on Wednesday.

In US Equity Markets indexes fell on Thursday, as mounting worries over a coronavirus outbreak in China, disappointing corporate earnings and weakness in financial stocks prompted investors to hit the brakes after a strong rally this year. The S&P 500 shed 0.45% to 3,306.82 and the Nasdaq Composite fell 0.30% at 9,355.31. Financial stocks, down 1.1%, were among the biggest decliners. Apparel maker VF Corp fell 8% after cutting its full-year earnings forecasts on weak demand for its Timberland brand.

In Bond Markets U.S. Treasury prices rose on Thursday, pushing yields to multi-week lows, boosted by safe-haven demand on persistent concerns about the impact of the latest coronavirus, which recently broke out in China. U.S. 30-year yields fell to a seven-week low, while those on two-year and 10-year notes fell to fresh two-week lows. U.S. 10-year yields fell to 1.73%, from 1.771% late on Wednesday. Earlier in the session, 10-year yields fell to two-week lows of 1.72%.