European stocks dive to 7-week low as coronavirus cases spike

European stocks fell in morning trading on Monday, to deepen losses for the third straight session on sell-off, and hit a 7-week low, due to renewed concerns and rising coronavirus infections in in Europe and the US.

Stoxx Europe 600 fell 3.1% as of 11:35 GMT, to the lowest level since August 3 at 357.95 points, after it closed lower by 0.6% on Friday, to post its second straight daily loss, following World Health Organization's warnings.

During the past week, the index gained 0.1%, to post its second straight weekly gain.

The index opened today's session lower, to deepen losses for the third straight session and dive to its 7-week low, as most of the major European exchanges and sectors fell today.

The banking sector saw the largest losses in Europe today, dropping by more than 6%, followed by the travel and leisure sector drop by more than 5.5%, on negative news about the coronavirus pandemic

The coronavirus crisis continues to deter the global market, as cases spiked in France, the UK, Spain and many parts of the US, which renewed concerns about the global economic recovery.

This led some countries, led by the UK headed by Boris Johnson, are considering re-imposing another lockdown in efforts to contain the spread of the coronavirus.

The World Health Organization warned during the past week that "a very serious situation unfolding" in Europe, as the number of infections continued to rise, which has forced some regions to reinstate health quarantine and lockdown measures.

S&P 500 futures fell 2% today, to the lowest in nearly two months, after it closed lower by 1.2% on Friday at Wall Street, posting the third straight daily loss.

Back to Europe, the Euro Stoxx 50 index fell 3.2%, Germany's DAX lost 3.4%, France's CAC 40 fell by 3.3%, and In London, the FTSE 100 index fell by 3.5%.