Global shares sink on pandemic news, waning hopes for fix

Coronavirus

TOKYO (AP) – Shares tumbled in Europe and Asia after the World Health Organization declared a coronavirus pandemic and the Dow Jones Industrial Average fell into bear market territory.

Benchmarks in Paris, London and Frankfurt all sank more than 6% and Wall Street futures were down 5%. The plunges followed a sell-off on Wall Street.

Investors are hoping for more aggressive action from President Donald Trump’s administration in response to the outbreak.

World markets are enduring violent swings as investors rush to sell amid uncertainty about how badly the outbreak and efforts to contain it will hit the economy.

Stay with News 2 for continuing coverage of the COVID-19 Pandemic.

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