Tokyo fell as much as 10% at one point while Hong Kong plunged as low as 7%. FMTNews Virus
The US stock market had its biggest drop since the 1987 Black Monday crash, Dow industrials plunged more than 10%.
“Markets remain in a freefall as uncertainty persists with no reliable anchor which can create near-term stability,” Ben Emons, at Medley Global Advisors in New York, said. Shanghai was down less than 1% as the number of new cases in China, the centre of the outbreak, shrinks and people slowly return to work in the worst-hit areas.But the standout was Sydney, which swung more than 12% to end 4.4% higher.
Analysts said Trump’s ban on travel from Europe deeply rattled investors, and measures intended to shore up business and markets were proving insufficient. “In mere weeks, the market has shifted gears from a transitory health scare to a full-blown global recession,” said AxiCorp market strategist Stephen Innes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock plunge in Asia as Wall Street sees worst day since 1987HONG KONG (Bloomberg): Stocks tumbled in Asia following the worst Wall Street session since 1987, with investors spooked that emergency fiscal and monetary packages won’t be enough to stave off a recession. Treasuries edged up with the dollar.
Read more »
Wall Street plummets, suffers worst day since 1987NEW YORK: Wall Street tanked on Thursday, slamming the book on the longest-ever US bull market after new travel restrictions to curb the Covid-19 coronavirus spread spooked investors and rattled world markets.
Read more »
Bursa Malaysia opens lower tracking Wall Street lossesKUALA LUMPUR: Bursa Malaysia lost more ground at the opening today, tracking overnight losses in the Wall Street after the World Health Organisation (WHO) declared COVID-19 outbreak a pandemic.
Read more »
Shenzhen keeps itself on cutting edge despite virus fearsSHENZHEN (China Daily/ANN): Shenzhen has continued to carry out business environment reforms despite the novel coronavirus outbreak.
Read more »
India closes a border, extends travel curbs as regional coronavirus cases riseCORONAVIRUS | The virus has hit Europe and the US far harder than China's most immediate neighbours in South Asia, where no deaths reported so far.
Read more »
Journalist charged with fear mongering to send representation to AG's ChambersCORONAVIRUS | She pleads not guilty to all charges on knowingly making the statements about the virus with an intention to cause fear or alarm.
Read more »