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The European Commission (EC) will introduce restrictions on non-essential travel to the European Union for 30 days, EC President Ursula von der Leyen announced on Monday.

Elsewhere, the German government has announced that federal and state governments have agreed upon guidelines that see everything from non-essential shops, including bars, clubs, theatres, museums, churches, shut down to slow the spread of the coronavirus.

Market reaction

Risk-aversion continues to dominate financial markets on Monday. As of writing, the Euro Stoxx 50 was down 6.15% on the day and Germany’s DAX was erasing 4.7%.

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