Europe's hard-hit travel & leisure index and auto stocks fell 5% each, while banking shares slid 3.7%. A batch of weak earnings reports added to the gloom.
Shares in Germany's Commerzbank fell 7.1% and Dutch bank ABN Amro dropped 9.1% after swinging to a loss in the first quarter as the pandemic drove up loan loss provisions.
Deutsche Bank sank 6.4% on news that top managers will waive one month of fixed pay in an effort to cut costs.
UK-based luxury carmaker Aston Martin plummeted 16% as it posted a deep first-quarter loss after sales dropped by nearly a third due to the impact of the coronavirus crisis.
Sensor producer AMS slumped 8.7% after saying that it planned another capital increase to finance the takeover of Osram. Shares in Exor, the holding firm of Italy's Agnelli family, fell 7.2% after French insurer Covea walked away from its planned $9 billion purchase of PartnerRe, the Bermuda-based reinsurer owned by Exor.