00:19 GMT29 October 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.

    outbreak, disease, economic growth, trade, stock market, concerns, infection, virus, China, US
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