Global stocks fall on virus fears after Wall Street plunge

Financial Markets Correction Q A
Posted at 5:14 AM, Feb 28, 2020
and last updated 2020-02-28 05:14:00-05

(AP) — Global stock markets have fallen further on virus fears after Wall Street endured its biggest one-day drop in nine years.

Germany's DAX skidded more than 5%, Tokyo and Shanghai closed 3.7% lower and Dow and S&P 500 futures were down 2.3%.

The deepening rout is fueled by fears the spreading virus that emerged in China in December will derail global trade and other industries.

Investors had appeared confident governments were bringing the outbreak under control, but forecasters warned such optimism likely was premature.

A growing list of major companies are issuing profit warnings and say factory shutdowns in China are disrupting supply chains.

They say travel bans and other anti-disease measures also are hurting Chinese consumer spending.