Coronavirus Spread drops the Stock markets

The coronavirus cases in Iran, Japan, South Korea, and Italy climbed sharply. It darkened the outlook for global economic expansions. Thus, on Monday, global stock markets turned gloomy.

Early on, European stocks booked losses. After a fourth victim of the outbreak, Italy dropped as much as 4%. It led to a virtual lockdown in some parts of the industrial north.

Since 2016, it left Milan set for its worst day. Following the death of a fifth patient, the FTSE MIB was last down by 5.1%.

While the FTSE 100 slipped 2.5%, Both France’s CAC 40 and Germany’s DAX index shed nearly 4%. The slip of FTSE 100 wiped off at least $350 billion worth of London’s market value. The index last stood with a 3.4% loss.

In Asia, on Monday, KOSPI’s south Korea registered a 3.9% fall. It was after the country’s high alert announcement. The number of deaths in the country surged to seven and inched up to 763.

New Zealand fell around 1.8%, while Australia’s S&P/ASX 200 also fell by 2.25%. CSI300 index, China’s blue-chip, ended the session by 0.4% weaker.

The MSCI’s broadest index had a poor performance. It pushed the Asia-Pacific shares outside Japan down by 1.9%. Since early February its lowest level. Thus, in Japan, stock trading took a breather for a public holiday.