Global stock markets plunge on coronavirus fears
ReutersGlobal financial markets saw some of the sharpest falls in years on Monday after a rise in coronavirus cases renewed fears about economic slowdown.
In the US, the Dow Jones and S&P 500 posted their sharpest daily declines since 2018, with the Dow falling 3.5% or more than 1,000 points.
The S&P 500 ended the day 3.3% lower, while the Nasdaq sank 3.7%.
The UK’s FTSE 100 share index closed 3.3% lower, the sharpest drop since January 2016.
In Italy, which has seen Europe’s worst outbreak of the virus, Milan’s stock market plunged nearly 6%.
In contrast, the price of gold, which is considered less risky, hit its highest level in seven years at one point.
The moves came as the outbreak continued to spread outside of China, with Iran, South…
