Stocks are sinking on fears of the deadly virus in China — 'Markets are worried about this spreading to more cities' | Markets Insider

Stocks are sinking on fears of the deadly virus in China — 'Markets are worried about this spreading to more cities'Global stocks dropped on Tuesday as investors braced for coronavirus to spread as hundreds of millions of people travel across Asia to celebrate Chinese New Year this weekend.

Travel, retail, and luxury goods stocks fell sharply on fears that the disease, which has already infected 224 people and killed four, will temper consumer demand. "The worry is this is another SARS, an outbreak that saw thousands infected and led to hundreds of deaths," one analyst said.Global stocks dropped on Tuesday as investors braced for a wider outbreak of the mysterious coronavirus as hundreds of millions of people travel across Asia to celebrate Chinese New Year this weekend.

China's National Health Commission confirmed cases of the SARS-like virus spreading between humans on Monday. The disease has already infected 224 people and killed four,. The World Health Organization will meet on Wednesday to discuss whether to declare the outbreak an international public health emergency.

Travel, retail, and luxury goods stocks fell sharply on concerns that the disease will hit demand. Airlines slumped on fears of crimped travel plans. Pharma stocks in China rose by their 10% daily limit. A maker of face masks in China surged. Here's the market roundup as of 9:10 a.m. in London :

Overnights are down .3%, but “sinking” is a stretch. Dow still +29,000

Drmonroy4 algún plan para contener este nuevo virus en Guatemala, el viernes en el aereopuerto vi a dos ciudadanos Chinos entrando a Guatemala.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Airline stocks in Asia take a hit amid growing coronavirus fears in ChinaTravel-related shares in Asia fell Tuesday as fears grew over an outbreak of a mysterious virus in China that has killed four people so far.
Source: CNBC - 🏆 12. / 72 Read more »

Yen rises, yuan slumps as stocks fall on China virusThe yen pulled ahead and the yuan fell against the dollar on Tuesday as the spre... They will go back up soon once the virus is gone
Source: Reuters - 🏆 2. / 97 Read more »

Next stock market crash: Shrinking profit growth spells doom for rally - Business InsiderA market expert lays out how the worst 'corporate inequality' in 30 years spells doom for stock returns — and shares his best strategy for staying afloat
Source: BusinessInsider - 🏆 729. / 51 Read more »

Asia stocks set to open little changed; China's loan prime rate aheadInvestors will await the Chinese central bank's announcement of the country's benchmark lending rate, expected around 9:30 a.m. HK/SIN.
Source: CNBC - 🏆 12. / 72 Read more »

European stocks poised to open lower as world leaders gather in DavosEuropean stock markets are expected to open lower on Tuesday, the start of the World Economic Forum (WEF) in Davos, Switzerland.
Source: CNBC - 🏆 12. / 72 Read more »