Italy has by far the highest number of coronavirus cases in Europe. To date, a total of 152, with
3 deaths reported so far.
The stock market is getting more and more concerned about this and this morning the Milan based Italian Stock Exchange, Borsa Italiana, fell with 4.3%, due to the worrisome virus outbreak in the country.
Other stock markets are falling rapidly as well this morning, as the coronavirus continues to spread panic around the world.
The stocks of the 100 largest, most traded companies on the London Stock Exchange, FTSE100, fell with 3.3% this morning and the Swedish Stock Exchange fell with 2.4%.
The leading South Korean stock index Kospi fell with 3% after raising its coronavirus alert level to the highest possible. The alert level was raised due to several new reported deaths in the country and the number of people infected is now 763 – the highest number outside of China.
This weekend Samsung reported that one employee in a factory in South Korea had been infected with the virus. This morning the Samsung Electronics stock fell 2.5%.
Are we seeing a push towards a global recession due to the coronavirus?