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Coronavirus fuels recession fears: Worst week for global markets since 2008

Wall Street shares led the rout as the S&P 500 fell 4.42 per cent, its largest percentage drop since August 2011

Topics
Wall Street | Coronavirus | Dow Jones

Hideyuki Sano | Reuters  |  Tokyo 

Global share prices headed for the worst week since the darkest days of the world financial crisis in 2008 as investors braced for the coronavirus to become a pandemic and rapidly spread around the world. Hopes that the epidemic that started in China would be over in a few months and economic activity would return to normal have been shattered, as new infections reported around the world now surpass those in China. "The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel," said Norihiro Fujito, chief ...

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First Published: Fri, February 28 2020. 07:10 IST
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