US stocks fell sharply in morning trading as fears over the spreading coronavirus continue to unsettle global markets. The Dow Jones Industrial Average fell over 400 points after the Opening Bell.HONG KONG - Asian markets tumbled again on Tuesday, extending a global sell-off as the toll from a rapidly spreading Chinese virus spiked to more than 100 dead and thousands infected, with investors fretting over the impact on an already fragile world economy.
The outbreak comes during the Lunar New Year break when hundreds of millions of people criss-cross China and spend huge amounts of money.The government has sealed off Wuhan, the epicentre of the outbreak, and other cities in Hubei province, effectively trapping tens of millions of people including thousands of foreigners in a bid to contain the virus.
Analysts said there were growing fears the crisis could become as bad as the SARS outbreak that hammered markets and the global economy 17 years ago. In early trade, Seoul plunged more than three percent and Singapore shed more than two percent while Sydney was off 1.4 percent as investors in those markets returned from a long holiday weekend.
More than 100 dead in a week. In SA we have more than 100 murdered in 2 days. What’s the panic about?