DEVELOPING: Coronavirus panic sends world share markets crashing, compounding their worst week since the 2008 global financial crisis.
which was its largest fall since August 2011. They have now lost 12 percent since hitting a record high just nine days ago, driving into so-called correction territory.
"The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.Traders work during the opening bell at the New York Stock Exchange on Thursday.
The CSI300 index of Shanghai and Shenzhen shares dropped 2.9 percent, on track for its first weekly loss in three.
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