FTSE opens lower on viral fears

FTSE opens lower on viral fears

The FTSE 100 has tumbled 3.5% on the first day of trading this week on fears the coronavirus is on the verge of tipping the global economy into a recession. The slump in the UK’s largest 100 companies came off the back of a steep sell off in the US markets on Friday with the S&P500 down 2.6%. Gold prices spiked to over 1,600 dollars an ounce on the news as investors flocked to safe havens to protect capital. Investors remain on alert for any further deterioration in sentiment before deciding where to go from here.