The global financial markets have yet again tumbled after being spooked by intensified measures put in place by governments around the world scrambling to contain the spread of the Coronavirus.
Major European stock markets have fallen, with Italian stocks bearing the brunt of the shocks with the FTSE (Footsy) MIB nose diving by 17%, in the greatest loss in a single day ever.
Wall Street was also not spared, with stocks dropping by 10% causing a 15-minute suspension of trading making it the biggest drop since the 1987 Stock Market crash.
Airline, travel and leisure stocks have been the primary victims of the latest plunge as panic ensues caused by U.S President Donald Trump’s latest travel restrictions on Europe as a stampede of passengers attempting to get home before the ban becomes enforced.
The Coronavirus, which has now infected up to 126 thousand globally, has also hit the sports and entertainment industry particularly hard with events over the world being cancelled further shaking market confidence.