Japan's benchmark dropped almost 4% and other regional markets were mostly lower. Shares in Australia rose after the government promised more recession-fighting stimulus.Monday's drop followed a decline of more than 3% on Wall Street on Friday despite hopes that a $2 trillion relief bill would ease the economic havoc brought by the pandemic. The S&P 500 still gained 10.3% last week, its biggest weekly win since 2009. The Dow Jones Industrial Average's 12.
Early Monday, Tokyo's Nikkei 225 dropped 3.7% to 18,680.72 and the Kospi in South Korea lost 2.3% to 1,678.51. The Shanghai Composite shed 1.6% to 2,728.65, while the Hang Seng in Hong Kong lost 1.8% to 23,070.19. For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, or death.
Earnings for airlines, which have been hit by lost bookings as businesses and individuals cancelled travel plans to minimize their risk of contracting the virus, are expected to be catastrophic. Delta went from an expected 2.2% decline to a 108% plunge.
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