The novel coronavirus-related shock to US markets is once again carrying over to Asia Pacific
Australia's S&P/ASX 200 fell 2.2% Wednesday, while South Korea's Kospi and Japan's Nikkei 225 dropped 1.5% and 1.7%, respectively.Hong Kong's Hang Seng Index dropped 1.3%. China's Shanghai Composite lost 0.5%.The declines followed a terrible day in the United States, where the Dow finished 879 points, or about 3.2% lower — its second straight day of massive declines. The index has lost more than 2,000 points in total over the past four trading days.
World Health Organization officials said it's still too early to declare the novel coronavirus a pandemic — but now is the time to prepare.Investors and economists, meanwhile, are concerned about how the coronavirus is weighing on global supply chains and major economies around the world. The outbreak could cost China, the world's second biggest economy, tens of billions of dollars in lost growth this quarter alone.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BNP Paribas names the Asian stocks to buy during — and after — the coronavirus outbreakSome Asian markets and sectors could be immune from the economic fallout resulting from the ongoing coronavirus outbreak, said BNP Paribas.
Read more »
Coronavirus Rattles Asian Markets As 1,000 Guests Are On Lockdown In Tenerife Hotel Linked To IllnessMarkets in Asia continued to fall on Tuesday, while South Korea is aiming to test more than 200,000 members of a church sect for the Covid-19 virus.
Read more »
Champagne producers worry coronavirus will close promising Asian marketsChampagne producers fear that the spread of the coronavirus could stifle business opportunities in Asia, a massive and largely untapped market for the sparkling wine.
Read more »
Economic contagion spreads beyond China to other Asian economies: Reuters pollThe effects of the coronavirus outbreak are likely to reverberate beyond China a...
Read more »
Asian markets extend losses as outbreak’s ripple effects spreadShares were mostly lower in Asia on Tuesday after Wall Street suffered its worst session in two years, with the Dow Jones Industrial Average slumping more than 1,000 points on fears that a viral outbreak that began in China will weaken the world economy.
Read more »
Asian currencies arrest slide as easing expectations stall dollarThe dollar checked its march higher on Tuesday, as investors sharply raised bets...
Read more »