Jan 30, 2020
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Coronavirus spread sends Asia markets down

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Stocks in Asia dropped as the death toll and infection levels from the coronavirus rose.

Hong Kong’s Hang Seng is down 2.23% at 26,553.84 while Japan’s Nikkei is off 1.98% at 22,916.59.

More businesses are joining the temporary shutdown because of the outbreak – Google said it is temporarily closing all of its offices in China, Hong Kong, and Taiwan.

Markets were also reacting to a decision by the US Federal Reserve not to cut interest rates.

Deutsche Bank’s chief international strategist Alan Ruskin said: “In a matter of days, the coronavirus has shuffled the cards, and Fed policy is not sitting quite as comfortably.

“The Fed, like everybody else, is going to have a tough time quantifying the scale of the potentially large shock emanating out of China.”

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