15:01 GMT19 February 2020
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    Investors are worried that China's economy, as well as global economic growth, could potentially suffer as a result of the ongoing outbreak of a newly identified strain of coronavirus, which originated in the Chinese city of Wuhan.

    The US S&P500 futures have dropped by more than 1 percent in Asian trade, over fears of the fast-spreading novel coronavirus, Reuters reported on Sunday.

    According to Investing.com, S&P500 futures fell by 1.05 percent.

    Bloomberg also reported a decline in stock futures, while the Yen rose.

    On Friday, the US stock futures experienced the biggest drop since October 2019.

    The novel coronavirus, dubbed 2019-nCoV by the World Health Organisation (WHO), was identified in China's city of Wuhan, Hubei province, in late December, and has since then spread to several countries in the Asia-Pacific, while it also reached the US, France, Australia, and Canada.

    Concerns are mounting that the Wuhan outbreak could hurt global economic growth.

    Tags:
    outbreak, disease, economic growth, trade, stock market, concerns, infection, virus, China, United States
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