European stocks edged lower on Monday as global coronavirus developments and a sharp fall in U.S. oil prices were in focus.
The pan-European Stoxx 600 pared earlier gains to dip nearly 0.2% lower, with sectors and major bourses largely in negative territory. The U.K.’s FTSE 100 index was among the biggest regional losers, shedding 0.5%.
The move downward came after U.S. crude futures for May plunged more than 25% to $13.47 a barrel. Traders continue to fret over a slump in oil demand due to the coronavirus pandemic, with one analyst describing the situation stateside to CNBC as “quite dire.”
Coronavirus developments also remain in focus with more than 2.4 million infected worldwide and 165,903 deaths globally, according to data compiled by Johns Hopkins University.
Meanwhile, economic data out of Europe on Monday showed that the euro zone’s trade surplus with the rest of the world grew to 23 billion euros ($25.1 billion) in February, up from 18.5 billion euros a year…