Spreading coronavirus outbreaks in Italy and in South Korea over the weekend incited broad slides in global stock markets on Monday, as investors appeared to fear that the economic disruption already seen in China might affect other economies as well.
Futures markets suggested that Wall Street would suffer a decline of more than 2 percent when trading began in the United States, with airline and technology stocks hit in premarket trading. Delta Air Lines and American were both more than 3 percent lower, while shares of Apple were down by 3.5 percent. Oil prices also slid.
The South Korean market ended 3.9 percent lower, after a surge in cases of the coronavirus disease prompted President Moon Jae-in on Sunday to put the country on its highest level of alert.
In Europe, most stock benchmarks were down 3 percent or more.
The FTSE 100 in Britain slid 3 percent, while France’s CAC 40 was down 3.5 percent. The DAX in Germany also fell 3.5 percent. » | Keith Bradsher | Monday, February 24, 2020
