Coronavirus outbreak drags down markets
- Financial markets around the world have been rattled by the coronavirus outbreak in China on the back of fears that quarantine measures could drag down growth in the world’s second-largest economy, with a knock-on impact elsewhere around the world.
- Stock markets had begun 2020 close to record highs against a background of cooling tensions between the US and China in the long-running trade war between the two countries.
- The FTSE 100 soared to a high of 7,684 after Donald Trump signed phase one of a trade deal with Beijing in mid-January.
- However, stocks have slumped over the past week, with the FTSE 100 dropping to below 7,500.
Source: Guardian Business