Europe dives to 3-week lows on concerns over second coronavirus wave

European stocks fell on Monday, diving to a 3-week low, on investors' risk-aversion, due to fears over a second coronavirus wave in Beijing and the US.

The Stoxx Europe 600 index fell 1.2% as of 11:15 GMT, and hit the lowest since May 25 at 344.91 points, after closing higher by 0.3% on Friday, in its first daily gain in 5 days.

The index has lost 6% during the past week, posting its first weekly loss in a month, on a gloomy global economic outlook, and fears over a second coronavirus wave in the US.

The pan European index opened lower today, dropping to a 3-week low, with most European markets and sectors seeing red today.

The mining sector saw the largest losses in Europe today, with a drop by 2.5%, following disappointing Chinese industrial production data.

In first coronavirus epicenter, China, the government declared a state of emergency in a Beijing suburb, after a surge of new infections around a wholesale food market.

Similarly, the number of coronavirus cases started to rise again in the US, over the weekend, with more than 25,000 new confirmed cases on Saturday alone.

S&P 500 futures fell 3.3%, falling to a 3-week low, after the index closed higher by 1.3% on Friday at Wall Street, while the index lost 5.9% on Thursday, in the biggest daily loss since March 16.

Back to Europe, the Euro Stoxx 50 index fell 1.4%, France's CAC 40 dipped 1.2%, Germany's DAX fell 1.3%, and the UK's FTSE 100 fell 1.1%.