The Shanghai Composite index fell 1.4%, its biggest drop in more than two months, while Japan’s Nikkei 225 benchmark lost 0.9% and Hong Kong’s Hang Seng index fell 2.8%—its biggest decline in over five months.Hong Kong’s credit rating on Monday, blaming the government’s failure to contain seven months of anti government protests that have crippled the city’s tourism industry and retail sector, driving it into recession.
by a widespread outbreak of the SARS-like virus: The Chinese yuan lost 0.6% and the South Korean won slid 0.7% against the dollar. U.S. stock futures were lower ahead of Tuesday’s market open: The Dow Jones Industrial Average was down 0.20% in pre-market trading, while the S&P 500 and Nasdaq Composite were down by 0.30% and 0.35%, respectively., as well: The Stoxx Europe 600 dropped 0.4%, while London’s FTSE 100 was down by 0.8%, Frankfurt’s DAX by 0.1% and France’s CAC 40 by 0.7%.Travel, retail and luxury goods stocks all plunged on concerns that the wider spread of the disease would hurt consumer demand.
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