New York — Coronavirus panic sent world stock markets tumbling again on Friday, putting them on course for their largest weekly fall since the 2008 global financial crisis, with over $5-trillion wiped from global market value so far this week.
MSCI’s gauge of stocks across the globe shed 2.42% for a weekly loss of over 11%, its second-largest on record. The CSI300 index of Shanghai and Shenzhen shares dropped 3.5% bringing its weekly loss to 5%, the largest since April.About 10 countries have reported their first virus cases over the past 24 hours, including Nigeria, the biggest economy in Africa.
The yen shined, with the Japanese currency rising by the most for any week since mid-2016. On Friday it strengthened 1.25% 108.25/$.
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