Leading shares across Europe have fallen sharply in morning trading amid fears that a renewed rise in coronavirus cases will blight economic prospects.
In London, the benchmark FTSE 100 share index was down more than 3%, with airlines, travel firms, hotel groups and pubs leading the rout.
Worst hit was British Airways owner IAG, which slumped more than 12%.
Similar falls were seen on markets in Paris, Frankfurt and Madrid.
Banking shares were affected by an extra set of concerns as allegations of money-laundering surfaced in leaked secret files.
HSBC, the bank at the centre of the scandal, saw its share price fall more than 5% in London, but the revelations dragged down the entire sector, with Barclays, Lloyds and NatWest all dropping about the same amount.