Taiwan's benchmark dived 5.8% as its market reopened after the Lunar New Year. Shares fell in most other markets, with the CAC 40 in Paris dropping 1.1% to 5,890.00 and Germany's DAX shedding 1% to 13,215.90. In Britain, the FTSE 100 declined 0.9% to 7,415.93.
After world health officials have expressed"great concern” that the disease is starting to spread between people outside of China, Japan's Nikkei 225 index sank 1.7% to 22,977.75, while Hong Kong's Hang Seng index skidded 2.6% to 26,449.13. In Australia, the S&P ASX/200 declined 0.3% to 7,008.40. South Korea's Kospi lost 1.7% to 2,148.00.
The World Health Organization was due to meet Thursday in Geneva to consider whether to issue a global alarm that might prompt more controls on movement inside and to and from China, resulting in greater disruptions to businesses and markets. Speaking to reporters Wednesday afternoon, Powell acknowledged that there’s a risk the outbreak could slow the global economy. But stocks barely budged after the Fed announced would leave its benchmark interest rate unchanged at a low level. The move, which was widely expected, reflects the central bank’s mostly positive view of the U. economy.
Overnight, bond prices rose. The yield on the 10-year Treasury fell to 1.56% from 1.64% late Tuesday.