Coronavirus kills seventh patient in Italy as pandemic fear grips global equities



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Coronavirus kills seventh patient in Italy as pandemic fear grips global equities

On Monday, the 24th of February 2020, a gauge of global stock indices was hit with heavy whiplashes and the Italy’s MIB FTSE flumped as much as 6 per cent followed by the death of seventh Italian due to a fast-spreading coronavirus outbreak which has been signalling every possibilities to turn out to be a global-scale pandemic with rapid rise of patients in S.

Korea, Iran and Italy with Afghanistan and Iraq reporting their first patients. Aside from that, a rapid upsurge of coronavirus cases outside China had sent global equity markets in to a tailspin on Monday (February 24th), while amid a growing uproar in the global equity markets over coronavirus-related financial downsides had led to an en masse rise of safe-haven assets such as gold which had reached its seven-year-peak on Monday (February 24th).

Besides, in the wake of withering global demand outlook following sharp rise in new coronavirus cases all over the world, European stock indices tumbled to their lowest level in roughly four years, while Dow took a header of 3 per cent to wrap up the day at two-month-low.

Meanwhile, praising China’s approaches towards coronavirus outbreak, in particular in Wuhan, the epicentre of the virus outbreak, which might have saved hundreds of thousands of newer cases across the globe, head of WHO delegation in China, Bruce Aylward said earlier on Monday (February 24th), “They’re at a point now where the number of cured people coming out of hospitals each day is much more than the sick going in. ”