UNITED STATES (OBSERVATORY NEWS) — Global markets fell Thursday, affected by concern about the spread of a new flu-like virus in China, and fearing its negative repercussions on the economic growth of the second largest economy in the world.
And Chinese shares suffered heavy losses amounting to about 3%, as the “Shanghai Composite” index fell by 2.75% to close at 2976.5 points, while the “CSI 300” index fell 3.1% to fall to 4003.9 points.
The World Health Organization plans to determine today whether to declare a global emergency due to the outbreak of the new “Corona” virus.
In Japan, the Tokyo Stock Exchange index “Nikkei” fell, and trading closed down 0.98% at 23795.44 points, while the broader “Topix” index fell 0.60% to 1733.71 points.
Europe was not luckier, as European indicators also fell, and the European “Stoxx 600” index fell 0.4%, at 08:06 GMT, in light of the decline in the energy sector due to a drop in oil prices due to fears that the spread of the virus will affect demand on The fuel.
The shares of the European auto sector reached a new low, the lowest in 3 months, after Washington threatened to impose high fees on car imports from the European Union if the bloc did not agree to a commercial agreement.
Oil prices also fell, hitting a 7-week low, Brent contracts fell 1.4% to 62.34 dollars a barrel, while US West Texas Intermediate contracts fell 1.6% to 55.80 dollars a barrel.
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
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