In European Equity Markets the pan-European Stoxx 600 fell 1% by the closing bell, with oil and gas stocks falling 2.6% to lead losses as most sectors and all major bourses slid into the red. H&M shares jumped 9.4% to the top of the Stoxx 600 after the Swedish fashion retailer posted its first annual profit rise since 2015 and announced a management reshuffle. BT Group shares fell 7.3% after slightly missing third-quarter earnings expectations and warning of a £500 million ($649.6 million) hit from the U.K.’s cap on Huawei technology.

In Currency Markets the Japanese yen and the Swiss franc gained on Thursday as the rising death toll from a virus spreading in China sent investors scurrying to the shelter of perceived safe-haven currencies while China’s yuan tumbled to a one-month low. The dollar index last stood at 98.04, flat on the day but not far from Wednesday’s two-month high of 98.19. The Japanese currency has fallen 0.3% against the dollar so far this month but risen against most others, adding 1.6% versus the euro and 3.9% on the Australian dollar.

In Commodities Markets oil prices fell 2% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting. Brent crude was down $1.20, or 2%, to $58.61 a barrel. Earlier in the session it dropped to $58.17 a barrel, lowest since Oct. 15. U.S. crude fell $1.21, or 2.3%, to $52.12 a barrel, after earlier falling to $51.92 a barrel, weakest since Oct. 10.

In US Equity Markets indices edged lower on Thursday, as the coronavirus epidemic fanned fears of a further hit to China’s economy, while a mixed batch of earnings from technology firms also weighed on sentiment.  The S&P 500 fell 0.35% to 3,261.85 and the Nasdaq Composite declined 0.13% at 9,263.10. The main U.S. stock indexes are on course for their second weekly declines. Among big decliners was Facebook Inc, falling 6.2% after saying growth would continue to slow as its business matured and it reported a surge in quarterly expenses.

In Bond Markets U.S. Treasury yields fell to three-month lows on Thursday and a closely watched part of the yield curve was briefly inverted as concerns about the economic impact of a virus emanating in China weighed on risk appetite. Benchmark 10-year note yields fell two basis points to 1.57%. The yields got as low as 1.55% overnight, the lowest since Oct. 10. The closely watched yield curve between three-month bills and 10-year notes inverted for the second time this week, a bearish signal for the economy.