Regarding the coronavirus outbreak, "this is a problem that is likely to become more significant for this country in the course of the next days and weeks," British Prime Minister Boris Johnson said on Monday, per Reuters. 

"This country is very well prepared," Johnson added. "We have a plan for if and when its spreads which looks likely it will."

Market reaction

The UK's FTSE 100 Index, which spent the morning trading hours in the positive territory, reversed its direction on risk-aversion and was last down 0.5% on a daily basis at 6,548.86 points. Meanwhile, the Euro Stoxx 50 Index erasing 1.9% on the day to reflect the dismal mood.