This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.bbc.co.uk/news/business-51624003

The article has changed 10 times. There is an RSS feed of changes available.

Version 6 Version 7
Japan shares slump as Asia reacts to global sell-off London stocks drop again on coronavirus worries
(about 8 hours later)
Shares in Japan fell sharply on Tuesday as investors worried about the spread of the coronavirus. Shares traded on the London Stock Exchange fell again on Tuesday as investors continued to worry about the spread of the coronavirus.
The slump followed a global stock market plunge on Monday, which saw big drops in the US and Europe. The sell-off sent the FTSE 100 down almost 2% to a 12-month low of 7,018 by the close of the day.
Japan's Nikkei 225 index dropped 4.5% when it re-opened following a public holiday on Monday, but regained some ground to close 3.3% lower. It followed a dismal day for Japan's Nikkei 225 index, which fell 3.3% before closing earlier.
Shares in Toyota Motor Corp fell 3.7%, while Uniqlo's parent company Fast Retailing dropped 4.2%. In the US, all three of the major indexes were trading more than 1% lower in early business.
Both firms are highly-dependent on a global supply chain that faces disruption following the shutdown of Chinese factories. The slump followed a global stock market plunge on Monday, which saw significant drops in the US and Europe.
Overnight, Wall Street saw its sharpest daily declines since 2018, with the Dow Jones falling 3.5%. But shares across Asia's other major stock markets traded cautiously on Tuesday.
Shares across Asia's other major stock markets traded cautiously on Tuesday.
Hong Kong's Hang Seng index edged up slightly, while South Korea's Kospi rose 1.2%.Hong Kong's Hang Seng index edged up slightly, while South Korea's Kospi rose 1.2%.
Shares in Toyota Motor Corp fell 3.7%, while Uniqlo's parent company Fast Retailing dropped 4.2%.
Both firms are highly dependent on a global supply chain that faces disruption following the shutdown of Chinese factories.
In the UK, travel companies were once again among the biggest losers with 6% being wiped from the value of cruise company Carnival and Tui shares shedding almost 5%.
It followed an increase in the number of cases of coronavirus outside China.
At least 280 people have been diagnosed with the virus in Italy, where seven have died. A handful of cases have also been identified in Switzerland, Austria, France and Germany
Many analysts expect the spread of the coronavirus to peak in the first quarter of this year, with economic activity rebounding in the second quarter.Many analysts expect the spread of the coronavirus to peak in the first quarter of this year, with economic activity rebounding in the second quarter.
"Those who expect the virus to kick off a global recession might be disappointed, as the impact is likely to be temporary," said Margaret Yang, an analyst with CMC Markets. "Central banks around the globe are ready to inject liquidity and cut down interest rates to cushion the headwind.""Those who expect the virus to kick off a global recession might be disappointed, as the impact is likely to be temporary," said Margaret Yang, an analyst with CMC Markets. "Central banks around the globe are ready to inject liquidity and cut down interest rates to cushion the headwind."
She added that the coronavirus is proving to be less deadly than SARS, just more contagious. She added that the coronavirus is proving to be less deadly than Sars, just more contagious.
In China, the Shanghai Composite index closed down 0.6% amid mixed reports about efforts to contain the virus.In China, the Shanghai Composite index closed down 0.6% amid mixed reports about efforts to contain the virus.
Investors remain worried about how far the coronavirus will spread rapidly outside of China, with raised fears of a prolonged global economic slowdown.