Asian stock markets fall further on virus fears after Wall Street endured its biggest one-day drop in nine years. Tokyo's benchmark fell by 3.4 percent and Shanghai, Hong Kong and Seoul all dropped by more than 2 percent.
Asian stock markets fell further Friday on spreading virus fears, deepening an global rout after Wall Street endured its biggest one-day drop in nine years.
Virus fears “have become full-blown across the globe as cases outside China climb,” said Chang Wei Liang and Eugene Leow of DBS in a report. The U.S. losses extended a slide that has wiped out gains major indexes posted this year. Investors came into 2020 feeling confident the Federal Reserve would keep interest rates at low levels and the U.S.-China trade war posed less of a threat to company profits after the two sides reached a preliminary agreement in January.
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