Coronavirus fears are weighing on Asian markets again

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Coronavirus fears are weighing on Asian markets again
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The novel coronavirus-related shock to US markets is once again carrying over to Asia Pacific

Australia's S&P/ASX 200 fell 2.2% Wednesday, while South Korea's Kospi and Japan's Nikkei 225 dropped 1.5% and 1.7%, respectively.Hong Kong's Hang Seng Index dropped 1.3%. China's Shanghai Composite lost 0.5%.The declines followed a terrible day in the United States, where the Dow finished 879 points, or about 3.2% lower — its second straight day of massive declines. The index has lost more than 2,000 points in total over the past four trading days.

World Health Organization officials said it's still too early to declare the novel coronavirus a pandemic — but now is the time to prepare.Investors and economists, meanwhile, are concerned about how the coronavirus is weighing on global supply chains and major economies around the world. The outbreak could cost China, the world's second biggest economy, tens of billions of dollars in lost growth this quarter alone.

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