European stock markets tumbled sharply on Monday, with investors gripped by worry as coronavirus cases surged outside of China — in South Korea, Iran and Italy — over the weekend.

The FTSE MIB Italy index slid 4.3% after coronavirus cases swept through the northern Lombardy region over the weekend, which includes the financial capital, Milan. Officials put nearly a dozen towns on lockdown as the number of confirmed cases went from three on Friday to more than 150 by Monday, with three deaths. Venice reported its first two coronavirus cases, and shut its annual Carnival two days early.