Stock markets fall
Asian stocks drop as mounting concerns of the coronavirus take hold and investors fret over the potential harm to global economies.
Markets around the world fell sharply on Monday. Japan’s Nikkei index fell by 2%. The FTSE 100 was down by 1.75%. European indices also suffer big falls. Germany’s Dax was down by 2% as at 14:30 GMT.
Stock markets in China are closed for the New Year holiday period – reports suggest they will remain closed until February. Futures show big falls.
Dow opens down some 500 points
U.S. markets open down – the Dow falling some 500 points at open – but has since regained some of that loss.
The Chinese government is reported to have announced that it would extend the week long Lunar New Year holiday as part of its attempt to contain the outbreak.
The death toll and cases continue to rise as China struggles to contain the outbreak.
Global markets starting to panic!