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How is the coronavirus outbreak affecting businesses and stocks? | ITV News

More than £200 billion has been wiped off the value of shares on the London FTSE 100 since the start of the week, amid fears of a global outbreak of coronavirus.

It's the biggest one-week drop since the 2008 financial crisis, and comes after a British person aboard the Diamond Princess died from coronavirus on Friday.

Global stock markets have gone into freefall with outbreaks appearing in Italy, South Korea, Japan and Iran, raising concerns the virus could become a threat to global trade and industry.

Anxiety intensified on Friday after the United States reported its first virus case in someone who had not travelled abroad or had been in contact with anyone who had.

Both the Dow Jones Industial Average and the S&P 500 fell 1.8%, and the Nasdaq fell 1.7% on Friday.

France's CAC 40 tumbled 2.7%, in Germany the DAX fell as much as 5% before stabilising and Tokyo and Shanghai closed 3.7% lower.

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