Australian stocks dive as coronavirus fears scare off investors

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Australian shares have been hammered amid continued fears about the impact on the global economy of the coronavirus epidemic. 9News

Australian shares have been hammered at the start of trading amid continued fears about the impact on the global economy of the coronavirus epidemic.

The Australian benchmark S&P/ASX200 index was down 113.4 points, or 1.62 per cent, at 6903.8 at 1015 AEDT on Monday, while the broader All Ordinaries index fell 120.1 points, or 1.69 per cent, to 7001.1.The ASX plunged more than 113 points in early trade. There is a slew of local financial data to come this week as the company reporting season kicks off in earnest.

But everyone will be watching to see what happens in China, when mainland stock markets for the first time on Monday since an extended break due to the deadly coronavirus epidemic.A man checks the board in front of the local pharmacy for results of the government's lottery for protection masks for coronavirus in Guangzhou, Guangdong Province, China, 02 February 2020.

 

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