Asian equities tumbled Friday as analysts warned the volatility that has characterised markets during the coronavirus crisis is likely to continue for some time.
While governments and central banks have unleashed or prepare to roll out stimulus measures, the rapid spread of the disease and rising death toll are putting a greater strain on economies and stoking concerns of a worldwide recession.
And with no end seemingly in sight -- almost 100,000 people in 85 countries have now been infected -- investors are fleeing out of risk assets such as stocks and into safe havens including the yen and gold.
"All we know now is that we don't really understand what's going to happen next," Michael Shaoul, head of Marketfield Asset Management, told Bloomberg TV.
"It's probably four, six, eight weeks before we're going to have any useful information as to what the trajectory of the virus is and what the actual economic fallout looks like."
It said a "long list" of countries were not showing "the level of political commitment" needed to "match the level of the threat we all face", with WHO chief Tedros Adhanom Ghebreyesus adding: "This epidemic is a threat for every country, rich and poor."
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