Coronavirus wipes $5 trillion off global stocks as it spreads to new countries

by Isabel Togoh, Forbes

Global stock markets have plummeted to their worst week since the 2008 financial crash, with $5 trillion wiped off global stocks as the coronavirus takes hold in new territories and sparks fresh concerns about a global pandemic.

  • In Asia, Japan’s Nikkei dropped 3.67% on Friday, while Hong Kong’s Hang Seng Index fell 2.4% and mainland China’s Shanghai composite index was down 3.71%.
  • European markets followed suit, with London’s FTSE 100 opening 3.3% down, while Germany’s DAX fell 3.6% and in France, the CAC 40 was down 3.1%. Italy’s FTSE MIB was down 2.3% on Friday.
  • The Stoxx 600, the pan-European index, is on course for its biggest weekly drop since the 2008 financial crisis.

 

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