Indian stocks crash to worst day since 2008 as pandemic fuels growth fears

The Indian stock markets plunged into bear territory on Thursday after the coronavirus outbreak was described a pandemic and the United States suspended travel from Europe, fanning fears of further disruption to the global economy.

The NSE Nifty 50 index plunged 8.3% to 9,590.15, its lowest close in 2-1/2 years, while the S&P BSE Sensex also slid about 8% to a near two-year low of 32,778.14.

The last time Indian stock indexes dropped as much was at the height of the global financial crisis in 2008.

The virus outbreak heightened worries over the Indian economy, which was already slowing, with the recent collapse