'Europe is center stage' — Wall Street veteran Art Cashin breaks down the sell-off

Art Cashin
David A. Grogan | CNBC

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Longtime trader Art Cashin said Wednesday that Wall Street is intently focused on the coronavirus developments across the Atlantic, saying that "Europe is center stage" as U.S. equities slide sharply.

"People won't give [earnings] guidance because of what's happening with the virus, so that's going to be a problem, but I think the real problem here is what does happen in Europe," Cashin said on "Squawk on the Street." "We're focused on France and Germany, but Spain and Italy and places like that may be about to go rampant."