Stocks fall as coronavirus spreads

Stocks fall as coronavirus spreads

US stocks experienced their largest one-day drop since the beginning of October as the escalating coronavirus has been reported to have killed at least 81 people in China and infected over 2,500, with cases now reported in several other Asian countries as well at the US, Canada, France and Australia. The Chinese government has extended the public transport shutdown to cities and announced further curbs on travel between China and Hong Kong in an attempt to contain the virus. Markets have been reacting on fears about the derailment of global growth prospects. US and European stocks have fallen, whilst safe havens such as government debt and gold are back in demand.