STOCK markets around the world plunged for the sixth day running yesterday — wiping more than £2.8trillion off the value of shares.
In falls not seen since the financial crisis, the FTSE-100 has lost £152billion since the start of the week, closing the day down 3.5 per cent.
Airlines took the brunt of the sell-off, as holidays were cancelled and firms told to avoid sending staff to affected areas. EasyJet’s shares have dropped 30 per cent since Monday.
The index has fallen by more than ten per cent since the start of the year, as traders and investors worry about how long the outbreak will last.
David Madden, an analyst at CMC Markets, said: ‘The week has been awful… but today’s session has been the most painful. The fear factor is ramping up and dealers are rushing for the exit.’
The French and German indexes plunged by similar amounts to the FTSE. In the US, where Donald Trump has attempted to play down fears of a pandemic, the Dow Jones has lost 3,400 points in a week.
Connor Campbell, of SpreadEx, said: ‘This is one of the worst weeks in recent memory and, terrifyingly, it’s not over yet.’
Meanwhile, Corona beer maker AB InBev says it expects to take a £155million hit from the virus.
