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Global stocks fall as coronavirus continues to spread

New York (CNN Business)Stocks are falling around the world as the coronavirus outbreak continues to spread globally.South Korea’s Kospi (KOSPI) fell 3.2% in early trading Monday as cases in the country surged past 600. About half of that total are associated with a branch of a religious group in the southern part of South Korea.…

New York (CNN Business)Stocks are falling around the world as the coronavirus outbreak continues to spread globally.

South Korea’s Kospi (KOSPI) fell 3.2% in early trading Monday as cases in the country surged past 600. About half of that total are associated with a branch of a religious group in the southern part of South Korea.
Dow (INDU) futures, meanwhile, were down 386 points, or 1.3%. S&P 500 (SPX) futures were down 1.3%, and Nasdaq (COMP) futures were down nearly 1.9%. The Dow closed 228 points lower on Friday, and all three indexes recorded a weekly loss.
Elsewhere in Asia, Hong Kong’s Hang Seng (HSI) dropped 1.7%, while China’s Shanghai Composite (SHCOMP) lost 0.8%. Japan markets were closed Monday for a holiday.
Oil futures tumbled, too. US futures fell 2.6% to trade at $52.01 per barrel. Brent crude, a global oil benchmark, lost 2.75% and was last trading at $56.89 per barrel. Shanghai crude futures, China’s oil benchmark, sank 4.5% to 393.3 yuan ($55.90) per barrel.
Coronavirus-related deaths have risen to 2,465 worldwide, with 23 outside of mainland China. There are at least 78,800 confirmed cases globally.

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