Latest News

Emergency measures worldwide as coronavirus fears spread

A currency trader monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul on February 21.A currency trader monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul on February 21. Ahn Young-joon/AP

The coronavirus-related shock to US markets is once again carrying over to Asia Pacific.

Australia’s S&P/ASX 200 fell 2.1% Wednesday, while South Korea’s Kospi (KOSPI) and Japan’s Nikkei 225 (N225) each dropped 1.5%.

Hong Kong’s Hang Seng (HSI) Index dropped 1.1%. China’s Shanghai Composite (SHCOMP) lost 1%.

The declines followed a terrible day in the United States, where the Dow (INDU) finished 879 points, or about 3.2% lower — its second straight day of massive declines. The index has lost more than 2,000 points in total over the past four days.

The S&P 500 (DVS) closed down 3%, while the Nasdaq Composite (COMP) fell 2.8%. Futures for all three major US indexes were up about 0.3% in after-hours trading.

Oil prices also tumbled again Tuesday. US oil settled 3% lower at $49.90 per barrel, while the global benchmark Brent crude settled 2.4% lower at $54.95 a barrel. Futures improved slightly during Asian hours.

This article originally appeared here