Stock markets are experiencing their worst week since the global financial crisis in 2018 as investors grow more concerned over the impact of coronavirus.
Thursday saw the US’ Dow Jones market fall by 1,191 points, its largest ever total. European markets also fell sharply when they opened on Friday morning. The FTSE 100 dropped more than 3%.
Investors had initially been resilient to the impact of coronavirus, particularly as figures coming out of China seemed to suggested that the number of new cases was falling.
However, with more and more cases being diagnosed elsewhere in Asia, particularly in Japan and South Korea, and in Italy in Europe, concerns are growing significantly.
The majority of major markets around the world recorded falls of greater than 3% on Thursday or when trading resumed on Friday. Germany’s Dax index and France’s Cac 40 fell by 3.6% and 3.1%, respectively. Further afield, Japan’s Nikkei 225 dropped 3.7%, making it more than 9% for the week. Australia’s ASX200 was down 3.3% and India’s two main markets were both down 3%.