Markets Tumble Worldwide On Fears Of Coronavirus Outbreak
Experts caution that it is still too early to understand how big an economic impact the virus will have, but the stock market took a hit on Monday on news of how quickly the virus was spreading within China.
Politico:
Trump’s Beloved Market Rally Gets Walloped By The Coronavirus
The Wuhan coronavirus is starting to infect President Donald Trump’s beloved market rally. The president weighed in on the coronavirus Monday just as markets tumbled worldwide, including a drop in U.S. stocks that erased this month’s gains. Meanwhile, China’s financial regulators said they will suspend trading on the Shanghai and Shenzhen stock exchanges for a longer period of time after a long holiday as fear over the extent of the outbreak spread. (White, 1/27)
The Washington Post:
Coronavirus Live Updates: Asia Faces Massive Economic Hit From Outbreak
Global markets saw heavy losses on Monday with the Dow plunging 1.6 percent. That trend is continuing across Asia on Tuesday as markets are opening down after the Lunar New Year’s holiday. Both South Korea and Japan’s markets have dropped nearly 3 percent. (Shih and Denyer, 1/28)
The Wall Street Journal:
Coronavirus Tests Market’s Faith In Global Economy
Anxiety over the outbreak hit financial markets around the world Monday, sending stocks from Japan to Germany to the U.S. to their worst days in months. “We always say that, barring an exogenous event, things look fine,” said Michael Farr, president and chief executive of investment-management firm Farr, Miller & Washington. “I don’t think markets anticipated how contagious this disease has proven to be and how quickly it’s spreading.” (Otani, 1/28)
