The coronavirus has blighted economies - and, accordingly, corporate earnings - everywhere.
Worse still were the falls suffered by the Sensex in India and the ASX 200 in Australia which, respectively, fell by 28.6% and 24%.
"And secondly, you have seen a very strong quick response to the virus outbreak [from China]. I think there was a sense with the combination of the control measures and the fiscal stimulus measures, the policy measures that the government put in place, that the economy would return to normal growth over a reasonably near term period."Some markets, meanwhile, might arguably have fared even worse than they did.
For the FTSE-100, this has been the worst quarter since the final three months of 1987, which included 'Black Monday' and 'Black Tuesday' in October that year. Two more heavyweights are the mining giants BHP and Rio Tinto, respectively the sixth and eighth-largest stocks in the Footsie, whose earnings have been hurt by lower commodity prices. The price of copper has fallen by just over 20% since the beginning of the year, its worst quarterly performance since 2011, while aluminium has fallen by 15%.The Footsie also includes a number of constituents whose fortunes are particularly closed tied to travel and tourism, the sector worst-hit by coronavirus.
They include the Premier Inn owner Whitbread, down by nearly 38%; the broadcaster ITV, down by nearly 57%; the mining and commodity trading house Glencore, down by nearly 48% and the housebuilder Persimmon, down by just over 29%.
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