MARKETS NOSE DIVE AS VIRUS SPREADS ACROSS THE GLOBE. Updated 10 minutes ago.

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European and Asian markets tumbled on Friday, following Wall Street’s plunge on Thursday as investors became even more concerned about the potential harm to worldwide economic growth from the spread of the newly emerged coronavirus.

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Stock markets in Britain, Germany and France fell more than 3 percent in early trading on Friday. They nearly matched a 4.4 percent nose dive in the S&P 500 index on Thursday, which was the worst day for American shares since 2011.

Futures markets indicated Wall Street would open lower on Friday morning, too.

Investment bank economists issued increasingly glum predictions of how much the coronavirus outbreak would hurt economies around the world. Four dozen countries have already confirmed infections.

MARKETS NOSE DIVE AS VIRUS SPREADS ACROSS THE GLOBE. Updated 10 minutes ago.
MARKETS NOSE DIVE AS VIRUS SPREADS ACROSS THE GLOBE. Updated 10 minutes ago.

“The more countries that are faced with fighting a pandemic, the wider the potential for economic disruption and potential for increased recessionary risks,” said Tai Hui, the chief market strategist for Asia at J.P. Morgan Asset Management, in a research note on Friday.

The declines in Europe followed another grim day of trading in Asia. The Japanese stock market fell 3.7 percent while the stock markets in Australia and South Korea each declined 3.3 percent.

In greater China, the Shanghai market dropped 3.7 percent and the Hong Kong market was down 2.5 percent.

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Ibekwe Cynthiahttp://evergreennewsonline.com
Ibekwe Cynthia .C. is a certified senior reporter/graphic designer/Advert executive at Evergreennewsonline.

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