China’s Coronavirus Hits Markets

The Coronavirus affecting China has raised concerns about its impact on the Chinese economy and by extension the global markets.

Already oil has fallen to its lowest price in seven weeks, reflecting demand concerns if the Wuhan virus undermines China’s economic growth.

March futures contracts of Brent crude fell to trade at $61.35, a 2.9% drop, while US West Texas Intermediate futures crude oil declined just over 3%.

Meanwhile, stocks in China plummeted after the government’s announced actions to stem the spread of the fast-spreading virus.

Yvad Billings, Readers Bureau, Fellow

Edited by Jesus Chan

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