Stocks slump on fears the Wuhan coronavirus will hammer global growth
Stocks plunged on Thursday as investors braced for the economic fallout of Wuhan coronavirus.
"If the coronavirus outbreak persists, the effects will be felt though global growth, trade and global value chains as well as in specific sectors such as transport and tourism," analysts said.Stocks tumbled on Thursday as Wuhan coronavirus spread to at least 20 countries, fueling fears that it could weaken global economy growth.
The World Health Organization said incidents of human-to-human transmission outside China were of "great concern," and its experts will meet today to decide whether to declare the outbreak a global emergency,The deadly epidemic could slow China's economic growth to 5% or lower this quarter, government economist Zhang Ming told Caijing magazine this week,Analysts warned that the economic fallout, like the virus, won't be contained to China.
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