Global shares slide on fear virus' spread may be unstoppable

France's CAC 40 lost 0.6% to 5,644.47 in early trading, while Germany's DAX fell 1% to 12,661.83. Britain's FTSE 100 lost 0.6% to 6,976.95.

Shares fell in Taiwan and most of Southeast Asia but rose in Malaysia following recent losses due to political turmoil. The Dow Jones Industrial Average dropped 879 points, for a two-day loss of 1,911 points. Travel-related stocks took another drubbing, bringing the two-day loss for American Airlines to 16.9%. The large publicly traded cruise operators have also suffered double-digit losses.

The viral outbreak that originated in China has now infected more than 80,000 people globally, with more cases being reported in Europe and the Middle East. The majority of cases and deaths remain centred in China, but the rapid spread to other parts of the world has spooked markets and raised fears that it will hurt the global economy.

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